Life insurance can be a sensitive, confusing conversation in financial planning. But for financial planner Lakeisha Hill, it is simply too important to put off. In this episode, Lakeisha shares her personal experiences with life insurance and the heartbreaking challenges she’s seen families face due to lack of coverage. She also gives an overview of term life and the expenses it can cover for beneficiaries, as well as a rule of thumb for how much coverage to consider based on your income.

Lakeisha and Michael also discuss the importance of long-term care insurance, sticking to your financial plan during times of uncertainty, and how saving more money today can make it easier to live in the moment.

Related reading: “A Quick Guide to Life Insurance” from Edelman Financial Engines Head of Insurance Robert Bain.

Neither Financial Engines Advisors L.L.C. nor any of its advisors sell insurance products. Edelman Financial Engines affiliates may receive insurance-related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. You are encouraged to review this information with your insurance agent or broker to determine the best options for your particular circumstances.