The whole idea of life insurance is to ensure your life assets are safe and secure, such as health and income for your entire life. This can include retirement, however, many people are questioning if life insurance is needed after retiring. When a person is young and working, they usually have a life insurance policy in place to provide for their family if an emergency or death occurs. Once that person retires, the children are generally out of the house and there is no income to protect. This leads them to contemplating their life insurance plan.
Reasons to consider life insurance include the following:
Secured Finances – Life insurance may be vital to you if there is an individual such as a child, spouse, or family member relying on your financial income.
An Individual Who Relies on You – If there is still someone who relies on your financial income, then it is smart to keep your life insurance plan.
Final Expenses – You do not want to leave your family with your final expenses which include estate taxes and funeral costs. Life insurance when you are retired protects this from happening.
Speak to Your Insurance Agent
It is wise to be prepared with your life insurance plan in place as soon as possible. If retirement is approaching for you, it is important to check over your life insurance needs and what you believe you or your family members will need. Retirement planning can be difficult concerning with the idea of life insurance needs, be sure to carefully check what will be necessary in the event of an emergency or death. For more information with retirement and your life insurance needs, contact us today at Brazelton Insurance Group.