Episode 14: The conversation no one wants to have
Finance 101On this episode…
For cousins Desha and Tanda, the unexpected passing of their aunt and “third musketeer” was a crushing blow—but it was also a wake-up call for their family finances. They discuss the tough lessons and silver linings that accompanied their loss and how their aunt’s savvy planning and life insurance helped them stay afloat amidst a flood of grief.
This episode’s expert is Brooks Tingle, President and CEO of John Hancock Insurance. Brooks helps us understand why sometimes the hardest conversations are the most important and offers insights into the life insurance process.
Key Takeaways:
- Take advantage of triggering life events—marriage, kids or a global pandemic—to start a conversation about estate planning and life insurance with loved ones.
- If affordability is a barrier, remember that some life insurance is better than none at all.
- Don't just start the process and forget about it. Setting up an estate plan and life insurance can be daunting but in a worst-case scenario, follow-through is crucial.
- Review your life insurance policy and beneficiaries annually as part of your broader financial picture.
- If you think you’re too young for life insurance, think again. Premiums can be less expensive when you’re younger and plans like John Hancock Vitality offer benefits and discounts you can enjoy now.
Want to learn more? Check out:
Life insurance & COVID – changing minds and expectations
The secret of life insurance: get it before you need it
6 tips for choosing a life insurance beneficiary
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The views and opinions expressed in this podcast are those of the speakers at the time of recording and are subject to change as market and other conditions warrant. This podcast is for informational purposes only and is not intended to be, nor shall it be interpreted or construed as, a recommendation or providing advice, impartial or otherwise, regarding any specific product or security.
Financial planning and investment advice provided by John Hancock Personal Financial Services, LLC (“JHPFS”), an SEC registered investment adviser. Investments: not FDIC insured – No Bank Guarantee – MayLose Value. Investing involves risk, including loss of principal, and past performance does not guarantee future results. Diversified portfolios and asset allocation do not guarantee profit or protect against loss.Nothing on this site should be construed to be an offer, solicitation of an offer, or recommendation to buy or sell any security. Before investing, consider your investment objectives and JHPFS’s fees. JHPFS does not provide legal or tax advice and investors should consult with their personal legal and tax advisors prior to purchasing a financial plan or making any investment.
Unless otherwise noted, the speakers are not affiliated with John Hancock and they may have been compensated for their time.
Life insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.
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