Life Insurance

Maybe the mortgage is nearly paid off, the kids are grown, and you're thinking there's no reason to have life insurance. Well, think again. Financial experts are recommending life insurance for the same reasons you had it when you were younger—and then some.

SPREAD THE WEALTH. A life policy is one of the most efficient ways to pass on assets to future generations. There's no income tax, and potentially no estate tax, either. It's an easy way to give all children an equal share or a cash amount equivalent to the value of a business being passed onto other heirs.

ACCESS TO CASH. Permanent life insurance also makes cash available to help fund your retirement. Withdrawals and policy loans can come in handy if you need to supplement your 401(k), Social Security and other assets.

DE-STRESS YOUR SPOUSE. Mortgage payments, debt and final expenses could put your spouse or life partner at financial risk. Life insurance can ease their mind, and yours as well, knowing they'll have the additional money they'll need.

FOR YOUR HEALTH. Several life policies allow you to access the benefits for chronic illness (legally defined as cognitive impairment or unable to perform two out of six activities of daily living). This would require annual certification from a medical professional.

CHARITABLE DONATIONS. Life insurance gives you various options to support your favorite non-profit(s). You could gift a policy to a charity or designate them as a beneficiary. It also lets you gift real estate or other assets to a charity while continuing to set aside an inheritance for heirs.

How can life insurance serve YOU in retirement? Schedule a consultation with one of our licensed professionals.


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"I hadn't considered life insurance at this stage of my life, but I'm glad I did! Thank you so much for the solid advice. The peace of mind, knowing my family won't be financially burdened, is huge." —Glenn