6 reasons for life insurance to your retirement

First, the basics. If you still need someone or love someone, yes, you need life insurance.

Now let, AOS dig a little deeper and look at other reasons why you may still need life insurance after 65

1. You always AORE the, ÄúBank of You. at 63% of parents over 55 are still supporting their children and grandchildren, according to LIMRA Secure retirement Institute. What happens if you are not there to provide that support? Who will be your children turn to for financial assistance? Friends or other family members? Life insurance can provide the funds to maintain this support.

2. You have a child with special needs. If so, you may need to make arrangements for continuity of care after you leave. This can be done by funding a trust with special needs with life insurance to provide the necessary resources to provide the level of care required for the child.

3. You, Aore, Äúretired at but still working. What if you, Aore still earn money that you rely on? You, AOD need to replace income, and the only way to do that is with people at work. If you don, AOT assets, life insurance can create these assets upon your death. How much will you need? Use our life insurance needs calculator to find out.

4. You have a pension dies with you. If you have a pension with no option for survival, How to replace that income stream for your spouse? Again, life insurance can replace lost pension income by creating assets that can be converted into an income stream.

5. You have a debt payment. According to LIMRA, the 65-74 age pensioners who still have debt installment education debt from an average of $ 2,300, while 64% of their debt consists of vehicle loans. Many retirees still have mortgage debt. Life insurance can ensure that these debts are paid death debtor, OSA.

6. You, AOD leave a legacy. Life insurance is a very effective tool to use for estate planning and equalization of assets being left to heirs and charitable planning. A small premium for life insurance can create money to death to achieve these goals.

These are just some of the reasons why life insurance may be required after your retirement. Talk with your agent or advisor for more information.