Services: Life Insurance

Life Insurance In Retirement

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Life Insurance In Retirement?

Does your family rely on you for money? It’s probably a good idea to look into getting life insurance in retirement. You want to leave your loved ones with a legacy and be able to enjoy your retirement at the same time. And, thankfully a single product can be used to accomplish both of these tasks. The right type of life insurance may make this and a host of other benefits feasible.

Life insurance comes in many forms. Which type best fits your particular circumstances? We can talk about this and other important retirement-related topics if you reach out to us to schedule a meeting. Generally, we would recommend utilizing indexed universal life (IUL) insurance in retirement.

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Benefits of Life Insurance In Retirement

Using life insurance in retirement comes with a number of features. Firstly, let's discuss the benefits of these products that will help you during your retirement:
  • The cash value of your insurance policy will remain protected, even in the event of a market downturn
  • With an IUL, cash value growth is based on the performance of a market index
  • You have the option to “lock in” what you accumulate
  • Tax-free* growth, and tax-free* access to your principal & interest
  • There are no fees or fines for accessing your cash value before the age of 59 1/2
Benefits offered to your beneficiaries after you pass away, meanwhile, include:
  • Immediate death benefit, avoiding probate court
  • The death benefit is tax-free*
  • It can be received as a string of payments, or as one lump-sum
  • Furthermore, the death benefit may be much higher than the premium paid