Retired

Life Insurance and Your Retirement

Depending on your finances, life insurance for one or both of you during retirement is a wise decision.

Whether you plan on using life insurance proceeds for final expenses, pay off your mortgage, pay off other debts, or desire to leave your children or grandchildren a tax-free inheritance, life insurance has many wonderful benefits.

Contact our office for a free life insurance review!

Congrats on Your Retirement

Entering retirement with a mortgage isn’t necessarily a bad thing. Entering retirement with a mortgage—or even a home equity loan—you can’t afford, however, is a potential disaster.

A certain amount of debt is manageable—even good—but massive debts such as HELOCs tend to make covering your retirement costs tricky, as retirees with this much debt need to set aside much more money than someone who has paid off their major loans to pay down their housing costs.

We recommend if a client can pay off their home equity line, it generally will get them to a state of debt they can support with what they want to live on in retirement

Retirement Woes and Pitfalls

A new report from the U.S. Government Accountability Office finds that among Americans 55 or older, 52% don’t have anything socked away for their golden years.

Of this group, about half do have a pension plan for their golden years—but the other half are left without any kind of nest egg at all.

And for the remaining 48% who are socking away, their savings seem to be falling short: The median retirement fund in this group is just about $109K.

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Each rate shown is a quote based on information provided by the carrier. By requesting a quote, you agree to LowTermInsurance’s Privacy Policy and Terms of Use. By submitting your personal information, you are making a consumer inquiry for insurance offered by licensed insurance agents. You consent and expect to be contacted by a licensed insurance agent via phone, email, text or direct mail. LowTermInsurance will not sell your information to a third party. Any health or personal information shared is protected by applicable HIPAA privacy laws and regulations. Invitations for application for life insurance on LowTermInsurance.com are made through its designated agent, Jack D. Davis, only where licensed and appointed. Jack D. Davis, is a licensed life insurance agent in multiple states and in his resident state of Florida. The following agent license numbers are provided for Jack D. Davis as required by state law: KY agent # 881715, MD agent # 2171689, CA agent # 0763085, PA agent # 430420, FL agent # D001693, GA agent # 30466520. Additional licenses are available upon request. No portion of LowTermInsurance.com may be copied, published, faxed, mailed or distributed in any manner for any purpose without prior written authorization of the owner. Life insurance policies described, quoted, shown and illustrated throughout this website are not available in all states and may include those issued by: ANICO – American National Insurance Company, Assurity, Banner Life/Legal and General, Sagicor, North American Life Insurance Company, Principal Life, Protective Life, TransAmerica Life. Rates and time taken to purchase a policy vary by product.Type your paragraph here.

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