Do I still need life insurance?

Steve & Ted
Thursday, June 21st
Moneytracker Don Grant talks about life insurance, its uses, and drawbacks.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

It's 71530. Qaeda answers feed in the morning now. 6473. Big things three city staff recommends closing which is us clap golf stories seeing. Which of those schools considering fences around all elementary school playground. Suspect jailed in which does latest homicide three big things he intended on Kate in a sense. Already this morning routine traffic slowdown in the road construction there. Kellogg especially eastbound at I eight to 35 yeah. So a couple of weeks ago they narrowed that down it's gonna remain narrow until October but again and that's. He's found especially Kellogg IT 35 traffic from Kate and as as radio and yet jitters. Sunny and breezy today with a high of 86 degrees yesterday's high eighteen million left. Mostly clear tonight the overnight low 61. Friday mostly sunny tomorrow's high of 86. Nice day their hidden into the weekend partly cloudy now. 64 degrees in the northwest wind it Manning it's miles per hour. King and assess whether brought you by the monarch voted one of the best suburban bars in America. By the urban reviews located at 979 list Douglas and historically knows the monarch. Stevenson in the morning Doug grant Ciampi the money tractor Martin. Is in the buildings and hear how much rain did you get on the way to work today there. Oh man it was more. Or down now none whatsoever redeploy dry as a bone now and there will pitiful yesterday. Okay Stephen Ted poll question on our web page Cain is just review the outcome ice cream what is your favorite ice cream flavor and people to tune in to hear the results of this through this silly poll course and a it is silly and people love silk. I. Rocky roads getting 10%. It's moved out strawberries getting 10%. Chocolate chip is getting 10%. I'd be opponent comes in at 14%. Chocolate at 28% and Vanilla at. 28%. Of those drop a little bit then we get a tie between the Nile and chocolate in the union there you blisters go to the web page Kansas review like come. Let's decide this thing how long he keep these things I mean is it like a month or something to what you think of another. A Q what is your favorite ice cream dedicated ten poll right here. A web page it is just ridiculous I copyright and expo yesterday it now already nobody get. They asked everybody favorite summer sport. One thing about some ice cream last night did you really. Raspberry chocolate chip while why's that. It's to opt out weird to me now. OK it is tasty east. Stocks rose yesterday as investors bet that technology companies and small domestically focused firms will continue to do well. Even if the trade dispute between the US and China gets worse. It all stocks US and 500 index rose four points. Dow slipped there ago though 42 boys who makes those 42 points down for the Dow. And the NASDAQ gained. 56 point you heard about General Electric evening kicked off and now that we had that on hand threat to. And Canadian prime minister John Bolton through those says he can't imagine president Donald Trump will make good his threat to impose your tariffs on Canadian out those entering the United States because it would amount to a self inflicted wounded. On the US economy name one Canadian auto company apparently they've worked together with US company yeah China. And me and there have a lot of work and my dog was made in Canada you what on supply you ski doo ski view Bob Barr does remember Marty and those via thanks. What does he do. It is it almost an hour. 65 in one Stephen did do I still lead life pitchers this is a good question. Diagram be an easy money tree aggregate liaison get kind of tired of paying those premiums may be can be a little lives and you know a poll. Question. And Estonia carpenter you know Oregon get your skirt and a according to the Center on Budget and Policy Priorities just a few decades ago the primary source of new wealth in America came from life insurance death benefits payouts. Now well this passed on from smaller successful businesses more than life insurance. Life insurance is getting cheaper the industry will periodically readjust their premiums based upon. The actuarial tables that show that we are living longer in general. If we live longer we pay more in premiums for a longer period of time so insurance companies can charge less because they're getting those periodic payments. More longer. Well if you're ultra wealthy and expect to leave a lot in your state to your heirs. The death taxes. And why they call it life insurance. When you die I don't know he paid death taxes I don't get it anyway. Could that could be taxed at a pretty high rate. Often more than 50%. For inherited assets above the 55 million excuse me above the five million dollar threshold. So a paid up whole life policy may be a good financial tool to help mitigate death taxes. That premiums may be. Half of the actual death benefit depending upon age and health of the insured but that's cheaper than paying for the full amount to Uncle Sam. Yet he gets in death insurance. Well if you're not using life insurance for estate plan do you really need it in retirement that's like Steve stuff for many the answer is now. I don't see life insurance as an investment. That's to be used to create a large profit of wealth for the successor. I use it as a way to manage risk the risk of being that a primary breadwinner dies in the families left without income. Life insurance benefits will cover the loss of income. As you approach financial independence and retirement. You your need for life insurance diminishes that means that life insurance needs should be reassessed your ironically and adjusted as she. Yes you get closer to your retirement. If you use term life insurance who worked at the time it. Collapse once the house is paid off independents are no longer dependent. Either way. Is set down what you're certified financial planner. To help map out your insurance needs in the union may find that you don't need them you mean it may find that you need a smaller policy here. We have bigger policy. Yemeni questions you can give me a call the number 6342222. Did today is national sell three day. Gaga recognizes a form of self portrait that couldn't exist without them. It's national self today and I met four or encourage you take creative appropriate self peace appropriates. With that's lips it's a bit. Oh it's all over him now. My granddaughter Evan she's what fifteen. And herself on outward at her house solutions who cellphone note to photo of me. And in about an instant she had this thing. Some are grotesquely. OK all face down it was. That she's left you know. Like anyway that's fun and reduce health resiliency and that's not a sultry that's somebody that was your picture was of me doing. What's I mean we have meet we get to. I don't see you -- feed you lead itself in the U I if I can now it's taking a picture of somebody else just thought that. Which is what we've done for the entire disarray and just say I took a picture. Okay. It'll be you we have to let us obviously you re right. National side and haven't taken us ultimately have taken place I never and a we just solar cell fees stick and our garage at a wow. It on you they would do and get any use nobody some president bill for what it was they were probably thirty bucks brand new you know way back way and I think we got like fifty cents or about you know the end I don't know I don't know my girls took my girls put together growth is that they reap the profits you sold yourself priest is. Aaron thank you big item 655 down steep and steady. Coming up Kansas news at 7 o'clock this morning a plan to put fences around all Wichita elementary school playgrounds that's all the way. Stephen Jen here on K and assess.