Retirement Planning:
More Than Just Saving and Investing

Mention retirement planning and most people think about their 401(k)s, IRAs or mutual funds. Keep saving, invest those savings wisely, get to age 65 and voila! You’re set for retirement.

Maybe. But what if things don’t work out exactly as you planned? What if you die prematurely or become disabled? What will happen to those people in your life, especially your spouse, who may be depending on your retirement savings to help support them well into old age?

Below are four ways insurance can help you meet important retirement planning objectives:

Prevent Your Retirement Plans From Dying When You Do

If you die before retirement, your survivors would miss out on both your salary for living expenses and the money you were setting aside for the future.

Protect Your Ability to Save for Retirement

If you are unable to work due to an illness or injury, disability insurance can help you meet daily living expenses – and more.

Supplement Your Retirement Income

Suppose your circumstances change and you no longer have anyone who would need the proceeds of a death benefit. With a permanent life insurance contact, you have the flexibility to surrender the policy and supplement your retirement income with the funds that have accumulated in the policy’s cash value account.

Preserve Your Estate Assets for Your Survivors

If you’ve accumulated a large estate, life insurance can help foot the estate tax bill from Uncle Sam, preserving assets for your heirs. Or, if your estate is more modest, life insurance can help provide a legacy for your children and grandchildren even if you use up most of your assets during your retirement years. 

active-arrow