Season 2 Episode 3 - Insurance for Military Families with Jeremey Vidmar

In this conversation, Jeremy Vidmar, an insurance broker, discusses the various insurance options available to military service members transitioning to civilian life. He emphasizes the importance of understanding life insurance, disability insurance, and long-term care insurance, while also addressing the underwriting process and the need for personalized insurance planning. The discussion highlights the unique challenges faced by veterans in navigating these insurance products and the importance of seeking professional guidance.

Chapters

00:00 Introduction to Insurance for Service Members

04:50 Understanding Life Insurance Types

07:47 Navigating Permanent Life Insurance Advertisements

10:38 Determining Insurance Needs

16:58 Integrating Life Insurance with Survivor Benefits

21:44 Exploring Permanent Insurance and Annuities

26:20 The Importance of Disability Insurance

27:18 Types of Disability Insurance Explained

31:43 Understanding the Underwriting Process

43:42 Long-Term Care Insurance Considerations

Takeaways

• Insurance is a crucial consideration for transitioning military members.

• There are two main types of life insurance: term and permanent.

• Permanent insurance can be complex and often misrepresented in advertisements.

• Determining how much insurance one needs involves both empirical and emotional factors.

• Integrating life insurance with survivor benefits can be beneficial for retirees.

• Disability insurance is often overlooked but essential for income protection.

• The underwriting process is critical in determining insurance eligibility and rates.

• Long-term care insurance is an important consideration for future planning.

• Understanding the nuances of different insurance products is vital for informed decisions.

• Professional guidance can help navigate the complexities of insurance options.

Contact Jeremy Vidmar, FIC®, CLTC®: https://www.e4.insurance/ or [e-mail]

Operation Retirement Readiness: www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.