20 reasons why you might need life insurance after 60

20 reasons why you might need life insurance after 60 -
Well, let, AOS think about it. You, AOVE got most of what you, Äôll ever win in the last 40 years. You must have accumulated sufficient assets to retire and live happily ever after. The opportunity and the possibility to add to this are limited by both your age and your health. But recent years have been a revelation on questionably your financial future can be.
Most people think of life insurance only when they want to protect their families and provide an alternative source of income in the event of their death. They don, AOT think as a buffer to replace property lost due to market volatility, for example, Äîfor, market crashes and you die before you have time to rebuild or replace lost assets.
Yes, I know. Your children have grown and gone. The mortgage is paid. You have minimal debt. So why someone 60 or older consider buying permanent life insurance
Reasons for life insurance after 60 years:.

1. retirement income loss spouse Offset death (max Pension)
2. The costs associated with death Pay
3. pay final expenses
4. pay inheritance tax
5. pay off debts
6. income paid in respect of a decedent taxes on IRA, 401 (k) s, etc.
7. providing care for a disabled child, spouse, etc.
8. offset loss of key person in a small business
9. Provide funds to purchase the interests of a deceased business partner and co-shareholder
10. dividends may be an additional source of retirement income tax free.
11. surrender values ​​are a source of emergency funds in life.
12. cash values ​​may be fully or partially annuity to provide additional income guaranteed for life.
13. Any unused funds can be used to provide a gift to grandchildren.
14. Provide a donation to charity at death or before if desired.
15. This adds flexibility to the succession plan.
16. This allows parents to balance unequal distribution of property or business interest to children.
17. It allows parents to spend all their money and still leave an inheritance to their children or grandchildren.
18. There is evidence of creditor in most states.
19. It can be designed to provide a Äúinevitable gain, Âu no matter when you die.
20. There may pledge loans. As people live longer, they tend to take on more debt or debt that has a longer amortization (just look at all the great houses being built by people who make up a family of two post- 65 adults!)

review your personal situation. Perhaps you will find there is more to own life insurance reasons you think after 60 years.