Guy McCord discusses the top myths of life insurance.
Listen to the interview on the Business Innovators Radio Network:
Life insurance is a crucial financial tool that can support people’s loved ones in case of their untimely demise. However, many myths surrounding life insurance can prevent people from taking the necessary steps to protect their families. Here are the top 3 myths of life insurance:
- Life insurance is only for older adults: This is one of the most common myths surrounding life insurance. Many young people believe they don’t need life insurance because they are young and healthy. However, the truth is that life insurance is important for people of all ages, especially if they have dependents who rely on their income.
- Life insurance is too expensive: Another common myth is that life insurance is too costly and only for the wealthy. However, life insurance costs depend on many factors, including age, health, and the amount of coverage people need. In many cases, life insurance can be affordable and provide peace of mind for the loved ones left behind.
- People don’t need life insurance if they have savings: Guy explained: “While having savings is important, it may not be enough to provide financial security to your loved ones after your death. Life insurance can provide a lump-sum payment to your beneficiaries, which can help cover expenses such as funeral costs, debts, and living expenses.”
In conclusion, life insurance is an essential financial tool that should not be overlooked or dismissed due to common myths. It’s important to speak with a qualified insurance agent to determine the best coverage options for an individual’s needs.
About Guy McCord
Guy McCord lives in the Dallas/Ft. Worth area with his lovely wife of 30 years, Patricia, and their son, Andrew, who will soon be a senior in high school.
Growing up in Plano, Texas, his grandparents were his heroes. One of his grandfathers served in Germany US Army and received a Purple Heart. His other grandfather was a West Texas rancher and worked for 40 years as a rural mail carrier. Guy’s grandmothers were steadfast in their faith.
Guy has served in staffing as CMO, logistics and commercial building maintenance as both a CFO and CEO. He has also served many small businesses in consulting.
Guy is a retired Texas rugby referee and serves Dallas County as Presiding Election Judge. After earning his MBA in 2007, he authored 7 articles. He supports the Monastery of the infant Jesus of Prague and St. Joseph.
His faith is his foundation, and he lists Jesus, Mary, Joseph, his wife, his son, and his great friends among the most important things in his life.
By structuring client retirement money to minimize taxes, safeguard against market losses and allow for upside gains while allowing for lifetime income.
Learn More: https://guymccord.com/
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