Amplify Wealth with Trilogy Financial Services

Navigating the intricacies of life insurance can be a daunting task, but at Trilogy Financial, we believe that understanding the basics is crucial in making informed financial decisions. Life insurance, in essence, provides a straightforward solution to a complex question: How can your family be financially safeguarded if the unexpected were to happen to you? Whether it's covering immediate expenses, sustaining a business, or planning for future needs like education and retirement, life insurance offers a safety net. At Trilogy, we're committed to simplifying the complexities of life insurance, empowering you to make choices that secure your loved one's financial well-being.

What is life insurance?

Life insurance is actually a simple answer to a difficult question: How will my loved ones manage financially if I were to die? If anyone depends on your income or the unpaid work you do, they would most likely struggle if you were to pass away. Life insurance pays cash—also known as a death benefit—to your loved ones when you die. It replaces your income and the many non-paid ways you support your household. Your family can use this cash to help pay for immediate and ongoing expenses like funeral costs, daily expenses, a mortgage or rent, and keep a business afloat. It can also be used for future expenses like college tuition, retirement and more.

How much does life insurance cost?

The good news is, life insurance may be less expensive than you think. The cost depends on four main factors: your age, your health, the type of policy and how much coverage you buy. In general, you’ll pay less the younger and healthier you are. To put the price in perspective, a healthy 30-year-old may be able to buy a $250,000 20-year level term policy for about $13 a month.1 That means if you purchase that policy and pay the $13 a month without fail, your loved ones would get $250,000 if you were to die at any point during those 20 years.

What are the different types of insurance?

Life insurance generally falls into two categories:

Term life insurance provides protection for a specific period of time (the “term” is often 10, 20 or 30 years). This makes sense when you need protection for a specific amount of time—for instance, until your kids graduate from college or your mortgage is paid off. Term life insurance typically offers the most amount of coverage for the lowest initial premium, and is a good choice for those on a tighter budget.

Permanent life insurance provides lifelong protection for as long as you pay the premiums. It also provides “living benefits” like the ability to accumulate cash value on a tax-deferred basis, which you can tap into to help buy a home, cover an emergency expense and more. Because of these additional benefits, initial premiums are higher than what you’d pay for a term life insurance policy with the same amount of coverage.

Sometimes getting a combination of term and permanent insurance is the best answer.

How much life insurance do I need?

The amount of life insurance to buy depends on who you want to protect financially and for how long. As a very general rule of thumb, experts recommend having life insurance that equals between 10 to 15 times your gross income. But you may need more or less than that. An easy way to get a working idea of how much you need is to use an online Life Insurance Needs Calculator.

Financial advisory firms have historically endured a bad reputation ­– either because they were too expensive, or they only helped people with lots of money to invest, or they were trying to sell clients a product or plan that didn’t align with the heart of their goals and situation. Too many Americans don’t think they can afford a Financial Advisor and planning services. Too many of them avoid partnering with an Advisor because they don’t think they have enough money to meet some criteria. But those are often the people who could benefit from a financial coach the most! It’s also the largest population in America. That’s why we founded Trilogy Financial almost 30 years ago – to provide a true fiduciary and financial coach to everyday Americans who want to live the best life possible. Our goal at Trilogy was to create something different, something people hadn’t seen before. And over the last 25 years, we’ve been evolving the firm and honing our practices to improve the financial planning industry and make an Advisor accessible to everyone.

A Purpose Driven Financial Advisor and Coach

In Trilogy Financial’s beginnings, our vision and purpose was to help Financial Advisors be better Advisors so they could help more people. However, as time has gone on, that’s evolved into something bigger. Now our purpose is to help everyday Americans gain financial independence. They are the group of people that often struggle to achieve their financial goals, and we want to focus and help those that need advice. This is the culture we’ve built today. Our Advisors want to help as many people as they can, and we’re on a mission to make those Advisors more productive so that can help provide more for our clients. That is purpose-driven business.

How to Make Financial Advisors More Productive For Clients

Most financial advisory and planning firms have an advisor-led service model, and there’s nothing wrong with that – except that not all Advisors have service as their strong suit. As a Financial Advisor, many people perceive our job is to advise people how to save and spend their money. But we believe it takes more than that to make an impact. We’re striving to build what we call a “trust transfer” where our Advisors spend more time advising clients, building Life Plans, and making recommendations, and a service team does what they do best. This is how we’re optimizing our operations at Trilogy for the benefit of our clients. This service team consists of a group of people with a distinct culture and skillset that will deliver great, helpful service to our clients. This is contrary to what’s “the norm” for financial advisory firms – and that’s exactly why we’re doing it. This is part of our efforts to bring quality financial planning and advice to everyday Americans.

Introducing the Mack Service Center

The Mack Service Center is a robust client experience service center that was Trilogy’s late co-founder Kevin “Mack” Mackintosh’s vision for the firm. His core focus was to build a meaningful client service team to support Advisors so they could do what they do best – financial planning – and provide the clients with a high quality experience. Mack designed and developed the Trilogy Service Team based on what he learned over the years as an Eagle Scout, rowing crew member and in his time in the financial planning business. From day one, he had a clear vision of what Trilogy could accomplish when we all worked together and focused on service. A few years back, he took the ball and really got it rolling for this project. He found the right people to lead it and get it off the ground. Right before his untimely passing in early 2020, he had nearly completed building the Service Center team vision. Following his loss, under the leadership of our founder/President, Jeff Motske, in conjunction with Eric Perkins – we built out the actual Service Center, team, outlined processes, operations and more. Kevin Mackintosh instilled the right attitude, built the right culture and we’re proud to name our Mack Service Center after him so his legacy lives on.

The Future of Trilogy Financial and the Mack Service Center

 Our goal is to have a well-regarded Advisor in front of every everyday American.  Too many financial advisory firms want to work with high-net-worth individuals, but it’s those who are 52 years old with $400,000 in their retirement who really need our support and education to get to where they want and need to be. These are everyday Americans, and they deserve for someone to help them pursue their dreams. And we’re changing that. We rolled out the Mack Service Center team this year to support our Financial Advisors’ current planning efforts with each client. This is our way of connecting the financial planning industry back with the real-life issues of Americans and helping each of them plan and live the life of their dreams.