Life Insurance and You

With so many different options available, the topic of life insurance can be an intimidating one.

Choosing a life insurance policy that makes sense for you and your family financially should be an objective decision made after you have been presented with all of the different options. 

In this installment of Your Money, Leo Daprile of Gem Young Insurance and Financial Services in Canfield shares insights into the business of life insurance.

“It is an uncreative business that people have tried to make creative [life insurance],”Daprile says.

When working with the team at Gem Young, the process is simple. They start by asking what you are trying to accomplish and what resources you have to commit.

“From there, we start having the conversation about different policy options,” says Daprile.

There are two main types of life insurance policies that the majority of people choose. The first one is a term policy. A term policy is insurance designed to be owned for a term of time (ex: 20 years) with a slated start and end date. 

The second is a whole life policy. A whole life policy is insurance designed to be owned for your whole life. There are also full life policies, which are smaller sums of money that generally account for things like burial, estate expenses, or other minor life expenses.

When choosing a life insurance policy, air on the side of caution in seeking the cheapest option. You want to be sure that the company you choose is financially stable and able to pay a claim if and when that time arises. At Gem Young, the different life insurance companies they represent tend not to be the cheapest for that exact reason – they want to ensure the bill will be paid if and when the time comes.

Original Air Date: Sept. 1, 2020. Every Tuesday during the Dan Rivers show on AM570 WKBN, Gem Young’s President, Leo Daprile, hosts a radio show called Your Money. Daprile brings his vast knowledge of all things “money” to discuss the topics in language everyone can understand.

About Gem Young
We’re a family business that does business with individuals and families who require comprehensive risk management for their wealth and their assets. We believe clients want professional advice at a fair value and we deliver that by leveraging our reputation of professionalism, integrity, teamwork, and a get-it-done-right-the-first-time attitude. We believe in making a difference in our clients’ lives.

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