Short Q&A segment from a YouTube video by Jayson Lowe addressing who should be insured. The speaker frames the decision as dependent on objectives and needs — who requires coverage, estate tax exposure, outstanding debts, intended inheritance for children or grandchildren, spouse income needs, and whether the primary candidate is insurable. He notes possibilities: insuring alternate family members or multiple people depending on asset levels and cash flow; decisions are individualized.
Well, shouldn't I insure my kids or my grandkids first? So the answer to that is it depends. What is your objective? What is your need? Who needs the coverage? What is your estate tax problem? What does your current debt look like? What do you want to leave behind for your kids and your grandkids? Do you want to leave them behind a policy or do you want them leaving behind tax free death benefit? They can fund their own policy. Do you have a spouse that needs to be looked after? Do you have enough remaining assets that can create an income stream for your spouse if you're not insured? Like, there's a massive amount of questions that need to be taken into consideration to help determine who's the right insured person. In some instances, we may have someone that's not insurable. Well, if that is the case. That is the case. In which case who's the next logical body that we're looking at? Or maybe you have a larger amount of asset value or income free, free cash flow that you can work with, in which case maybe we're getting multiple people insured right out of the gate. All of these things are common, but they're also very unique to the specific circumstances of.
