Why Have Coverage Past Your Working Years?
15-05-2017Many clients think they only need life insurance coverage to last them until they hit retirement. Isn’t retirement all about living off your savings and spending the rest of your days on a beach? We’re here to argue that life insurance still offers value into retirement years. Take a look at 3 reasons why clients should consider to continue coverage well into retirement:
- Investment - Instead of using the policy to cover an untimely loss of income, life insurance with cash value can be used to further accumulate money while clients are enjoying their retirement years.
- Maximize Payouts - If a client has allowed their policy to accumulate cash value for a long term, they can maximize payouts by dipping into accumulated cash value. This is helpful whether they rely on a pension or not.
- Leaving a Legacy - Retirees worry about outliving their retirement savings. At the same time, a lot of them still want to leave a legacy for their children and/or grandchildren. Life insurance can be the vehicle to allow them to achieve that goal.