What really keeps your financial future secure: strategy or principles? In the final session of this enlightening educational series, host Billy Gwaltney dives deep into the essential and often overlooked world of risk management and asset protection with guests Kyle Christensen and John Navin.
Together, they explore the intricate balance between traditional and principles-based approaches to safeguarding your financial assets. Both Christensen and Navin reveal the startling reality that many clients, including high-earning professionals, are grossly underinsured, sharing personal anecdotes to underscore the critical importance of early and adequate coverage.
Don't miss this engaging discussion filled with actionable insights, tips on optimal insurance strategies, and a holistic view on financial planning designed to help you secure and maximize your assets.
Episode Highlights:
- Kyle Christensen discusses the limitations in purchasing insurance and explains the principle of indemnity. (07:12)
- Billy Gwaltney shares a cautionary tale about a surgeon who unexpectedly needed long-term care due to early-onset Alzheimer's. (15:34)
- John Navin introduces the DIME formula for determining life insurance coverage needs and elaborates on his personal experience with health and life insurance costs. (28:49)
- A deep dive into the comparison of term versus whole life insurance, and Kyle Christensen’s compelling analogy between renting and owning life insurance. (45:02)
The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.
For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
Billy Gwaltney
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