Life Insurance with Mark Maurer

Money Checkup with Anjali Jariwala

Life insurance is such a crucial piece of a financial plan for your life, but it’s not always something that people understand or prioritize. What type of policy do you need? Do you have adequate coverage? Should your spouse have life insurance? In today’s Money Checkup, Mark Maurer gives us some helpful pieces of advice to answer these questions, and others, as we chat about why life insurance is an important component of one’s financial life. We go through term life policies versus permanent policies, how much insurance you should have and even talk about how much is too much insurance. Tune in to learn what type of policy and how much coverage is right for you.

Mark is the President and CEO of LLIS, a comprehensive insurance practice that works with advisors and their clients to find the right solution. As the son of insurance experts, Keith and Judith Maurer, Mark grew up in the insurance industry and has an impressive combination of education and mentoring. He constantly monitors the insurance and financial services industries and, under his leadership, LLIS continues to expand its portfolio of products and services. Mark’s dedication, along with his unique industry perspective, education, and experience, allow him to build upon the LLIS traditions of cutting-edge information and customer service that fee-only financial advisors and their clients have relied upon since 1992.

Mark earned his CFP® designation in 2006, his bachelor’s degree in business and finance from Emory University’s Goizueta Business School in Atlanta, Georgia, and his MBA from University of Florida’s Warrington College of Business. Earlier in his career, he managed market operations for an energy trading company and financial operations for an international shipping company.

What We Will Cover

• How Mark got into the insurance industry
• An explanation of the different types of life insurance
• Two options for term life insurance and the benefits to each option
• A good rule of thumb if you are selecting a term policy
• The different options for permanent life insurance
• How a cash value works on a permanent life insurance policy
• How a variable life policy differs from a whole life policy
• The types of people that could benefit from a variable life policy
• When a variable life policy would be more beneficial than a term policy
• The tax advantages of permanent policies if one is right for your situation
• Why even a non-employed spouse should have life insurance
• Questions to ask yourself before choosing a permanent policy
• General rules of thumb to know how much life insurance you need
• How much is too much life insurance
• How layering life insurance policies could be a better option for some people
• When to look for insurance if you or your spouse are thinking about having a baby
• Why you may not want to solely rely on your employer’s group policy
• How to proceed if you’re ready to obtain life insurance
• The importance of answering health questions honestly

A Financial Goal in the Works

• Save money for an addition for his house

One Piece of Financial Advice

• Open a retirement account as early as possible and put money away each month

Getting Connected With Mark

• LLIS website
• LLIS Twitter
• Mark's email

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Life Insurance with Mark Maurer