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Ep #31: What Would Your Family Do If You Died?
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We were notified by the significant other of one of our ER Doc clients that they had passed away last week. 30’s, non-working spouse, several kids… truly tragic. The silver lining is they had appropriate life insurance coverage so the “how will I afford to keep our lifestyle?” question doesn’t need to be worried about in the most difficult time of their life.
In our experience, ER Docs tend to underestimate how much they need in insurance to cover those dependent on them. At the same time, too much coverage can take up a large amount of your monthly cash flow. So in this episode, we discuss the factors at play at coming up with the right amount. The answer is more individualistic than you may imagine, and without a financial plan in place, it’s essentially impossible to solve for.
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