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Why You Need Life Insurance Post-Retirement

Written by: MJ Gissas

Retirement is the great reward for your lifetime of hard work. You have the chance to finally do anything you’ve ever wanted, especially if you have been smart about your money management and investments. With financial freedom, you may find yourself exploring the nation or even the world. You might buy the dream home you’ve always wanted, or simply pursue interests that you never had the chance to explore.

But life can be unpredictable, and even in the glory of retirement, there are still responsibilities you may have, especially if you have raised a family along your journey. There is no better way to show your family you care than by putting them first and thinking about how they will make the most of their lives, as well, once you move on.

But what kinds of things can life insurance help with? What burdens might you leave behind that a comprehensive life insurance plan will help ease for your beloved family? Below are some ways your beneficiaries might use your death benefit positively.

Maintain Standard of Living

Upon death, bills don’t stop. Plus, if you were bringing in income from some outside source, it is likely to cease as well. The beneficiaries you leave behind may have trouble maintaining their standard of living if you and your life insurance company don’t provide a benefit.

That means your loved ones may have to sell your home, your property, and your other assets just to ensure that your family can maintain a minimal standard of living. Give them some final comfort by buying a respectable life insurance plan post-retirement.


Eliminate Debts

Retirement, Life insurance post-retirement,

Not everyone is able to pay off all their debts before death. There is no shame in it; our way of life goes hand-in-hand with debt, but those debts don’t disappear once you’ve moved on. You instead leave them with family members who will undoubtedly need help paying them off. Life insurance benefits can help them do so.


Improve Life for Future Generations

One of the greatest gifts you can leave after a healthy retirement is a promise of an affluent future for generations beyond yours. Give family members the chance to attend school debt free or learn a trade without having to worry about taking on massive debt straight out of grade school with a comprehensive life insurance policy.


No Death Benefit Need - No Problem

If your family is financially set and there is no immediate need to cover financial expenses, some permanent life insurance policies may allow you to borrow funds, in the form of loans, against your cash-value to supplement your income while living. If the loans are not paid back by the time you pass, the insurance company will repay the loan from your death benefit proceeds and the remaining balance will go to your heirs.


The financial experts at Americans for Life can help you pick out the right life insurance plans to optimize benefits for your beneficiaries. We can also help you maximize your post-retirement income to build savings even in retirement.

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Americans for Life Financial Services offers retirement solutions for institutional investors and individuals. Knowledge and results help our clients make informed decisions to meet their financial goals. 

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