People often avoid discussing life insurance. But life insurance planning should be undertaken as part of the overall picture of planning for your money and keeping your money yours. David Moore of IRA Advantage talks with Art Scavola of Pinnacle Insurance about life insurance policies and the importance of assembling a team of advisors.

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The Value of Your Life Insurance Policies As Part of Your Overall Financial Plan

David Moore: We don’t often take a lot of time to think about life insurance contracts and policies, but it’s something of great value, and as we always say, “It’s a way to keep your money yours, and working for you.” Everything is about learning to plan, and working towards those plans.

Art Scavola: My years of experience in this industry have shown me that a lot of people just don’t think life insurance is a big enough deal, so they don’t put it in the context of an overall plan. There are those who do, and those are the ones who have what I would call a quarterback advisor. Somebody that really is more than just a stock broker, or just an insurance person, or just a CPA. I’m not criticizing here, but I’m saying this is really how you get to the most successful plan. You get together the people that have expertise and that you trust, and you put them into an incubator, if you will, to look at everything you have. By doing that, the consumer is always going to come out better than if they took a singular approach. I say that from especially the life insurance point of view, because it’s been my experience that most people really don’t understand life insurance and most of the time they don’t necessarily want to. But what they want is to know that the solution that it was designed for is still valid and affordable, and will work.

David Moore: Yes.

Life Insurance Polices The Value of Planning

Take Advantage of the Resources and Experts in Your Life When Assembling Your Planning Team

Art Scavola: Our goal is to confirm that kind of information on the planning team whenever we’re brought the current structure of the life insurance. If we’re brought in to evaluate the need, that’s different. That’s a different approach and that’s where it’s hopefully a holistic approach in which you bring in the advisors that have input in all segments. This allows us to arrive at the most attractive solution in coordination with all of the disciplines, which better serves the consumer. This is certainly better than listening to the old saw of, “Well, you don’t really need any life insurance,” or, “Why would you go to an attorney for a trust when you can just do a will,” and so on. Good planning and knowing that you have a plan will enable more positive results

David Moore: Take advantage of the resources you have in your life, the experts that are out there.

Art Scavola: Exactly. And many aspects demand our attention, and the targets are moving.

David Moore: It’s definitely a moving target, year to year, day to day sometimes, but the bottom line is you’ve worked really hard for your money, so we’ve got to figure out ways to keep it yours. And it’s valuable to me to sit here and listen, and next time somebody asks me a question, I can say, “Look, well I don’t really have the details on this, but I know this is possible. Give Art a call.” Take advantage of the resources— the experts in your life—before you make decisions.

Truly understanding what your retirement options are takes the help of an expert. A simple call to IRA Advantage will get you the advice you need. Give us a call today, 503-619-0223.