10 Reasons to Have Life Insurance After Retirement

10 Reasons to Have Life Insurance After Retirement

  1. Life insurance allows you to spend funds on your own needs. Those assets will be replaced for your heirs income tax-free.

  2. If you use liquid assets to pay for long-term care, life insurance can replace those assets after you pass away.

  3. A portion of the death benefit can be used for additional care or other needs if you develop a terminal illness.

  4. The cash value of the life insurance policy provides a source of cash if an emergency pops up.

  5. The U.S. Bureau of Labor Statistics says 13 MILLION PEOPLE AGE 65 AND OLDER WILL STILL BE WORKING BY 2024. Life insurance can provide money to replace that income for your survivors.

  6. The insured doesn’t have to gift away assets to avoid estate taxes because the policy will help pay the taxes.

  7. Life insurance can help divide assets among children from multiple marriages.

  8. The life insurance death benefit provides an extra source of cash while the surviving spouse adjusts to new circumstances. It can delay the need to make immediate financial decisions.

  9. Life insurance can help pay for final expenses, long-term care expenses, and medical costs that may not be covered by Medicare.

  10. Identity theft coverage is automatically included for all Pekin Life Insurance Company policyholders! Identity theft coverage helps stop fraudulent bills and charges.

For more information on all of the solutions that life insurance can provide, please contact Beck Insurance Agency at 419-446-2777, email us at help@beckinsurance.com, click here to submit your request, or stop by and visit us in Archbold or Whitehouse.