In my opinion, there are a few major clashes of interests between the you, the client, and your financial adviser who is making a living out of his job.
It is only by identifying and reducing these clashes of interests can there be a mutually beneficial relationship between an adviser and a client.
Melanoma is a malignant tumor of melanocytes (cells that produce melanin which is responsible for the colour of skin). It is less common than other skin cancers but is much more dangerous and causes majority of deaths related to skin cancer.
From the video: “I want you to be aware… That melanoma is a young person’s disease.”
There is some confusion between Disability Income (DI) insurance and insurance coverage that provides a payout for Total & Permanent Disability (TPD). Despite already writing a post introducing DI insurance before, I believe that more clarification is good to clear the air regarding such a policy that few people, including industry practitioners, are aware of.
TPD coverage is a lot more commonly explained as it is found in many insurance policies. DI insurance, on the other hand, is a very specific type of policy which coverage is markedly different from TPD but often conflated to be the same as they both seem to cover “disability”.
Buy Term Invest the Rest is a strategy that provides an alternative to whole life insurance policies. The rationale for such a strategy is that one can invest the savings in premiums one receives by purchasing an inexpensive term policy rather than a pricier whole life policy. The accumulated savings and investment returns will then make up a sum of money for one’s insurance needs in future when the term policy ceases.
Here’s the Math for such a strategy: