Life insurance can help build wealth in the Hispanic community, but first there needs to be trust.
Insider spoke to Silvia Tergas, a financial planner with Prudential, about how life insurance plays a role in financial wellness in the Hispanic community.
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"Financial planning begins and ends with the client's need for life insurance," said Tergas, "and at end of day, life insurance is risk management."
She said based on your cash flow and potential resources, you should balance the need for permanent life insurance, which is more expensive than term life insurance.