Unlike health insurance and car, many retirees choose to file their life insurance policies when they leave their jobs. The logic being that if someone is able to retire, they are generally financially stable enough that their death will not leave a spouse or other loved struggling to make ends meet. While you do not need life insurance in these circumstances, there are some reasons why you might want to keep on your policy.
Posterity
Whether or not your children are grown-hey, some of us get a start later than others, it is in the human nature to want the best for your children. In today's world, often resulting monetary support. Your life insurance policy can provide your children with additional financial security for years to come. And if you have young children at home, a life insurance policy can ensure that they are able to go to college or pursue other professional opportunities.
The Greater Good
If your family is already protected in the event of your death, you may want your life insurance policy to pay a organization or charity whose mission you support. Naming a charity as the primary beneficiary is a way to feel good to leave a lasting legacy.
real purpose
Individuals and families with large estates should develop a financial plan that allows them to pay inheritance tax in the future. A permanent or universal life insurance policy promises payment, no matter how long you live. The money from this type of policy can provide your heirs with the funds needed to keep the family property without having to dip into their personal property.
Business Security
business owners and partners may want to consider keeping their life insurance policies after retirement that the interests of private companies are illiquid assets subject to both tax and flow of the market. As the value of such high risk securities grows, so does the tax liability. This is especially true in times of economic instability. In these cases, a life insurance policy can ensure that your business will not have to liquidate business assets after spending.
There is no one-size-fits-all approach retirement. The same is true of life insurance. Whatever your financial situation, it is a good idea to talk with insurance or financial professional to determine the life insurance options make the most sense for you, your family and your property.
0 Komentar