This was a 'Super' helpful and timely episode for me - and I watched right to the end 😉 We're 50+ with very limited cashflow & with around 20% of our income currently going to Life insurances and projecting to be significantly worse (once we eventually decided to look into it), it was slowly killing us. Maybe "High Insurance Premiums" should be listed as a mental health risk on their application forms! Our advisor had the same discussions with us that you've talked about in here, and now we're in process of drastically reducing our premiums/cover. We'll put what we'll saving into investments and capital growth and our initial reaction (due to our disgust at our financial losses over the last few years of our policy) was to move to cancel all cover next year and self-insure. We're nowhere near a financial position to do this, so this discussion has persuaded me that would probably be a little dramatic. But instead, we will reassess our "values" with our advisor each year off that back of what you've talked about. So great episode and thank you all three of you. +1 more subscriber to the channel ☺
Mr Phil Thompson is good at explaining
This was a 'Super' helpful and timely episode for me - and I watched right to the end 😉
We're 50+ with very limited cashflow & with around 20% of our income currently going to Life insurances and projecting to be significantly worse (once we eventually decided to look into it), it was slowly killing us. Maybe "High Insurance Premiums" should be listed as a mental health risk on their application forms!
Our advisor had the same discussions with us that you've talked about in here, and now we're in process of drastically reducing our premiums/cover. We'll put what we'll saving into investments and capital growth and our initial reaction (due to our disgust at our financial losses over the last few years of our policy) was to move to cancel all cover next year and self-insure.
We're nowhere near a financial position to do this, so this discussion has persuaded me that would probably be a little dramatic. But instead, we will reassess our "values" with our advisor each year off that back of what you've talked about.
So great episode and thank you all three of you. +1 more subscriber to the channel ☺
Great podcast. Thanks for the wealth of knowledge passed on.
Smashed it very helpful thanks guys!
Great video!
👍