September is Life Insurance Awareness month and at The Retirement Institute, that means we spend a few weeks deeply focusing on life insurance and how it impacts both pre- and postretirement seniors.
Why Life Insurance Matters to Seniors
Many seniors are concerned about the legacy they’ll leave behind and the financial gifts they’ll be able to leave to their heirs. Life insurance is one of the most economical ways to ensure that the legacy you leave meets your expectations. Life insurance isn’t just about the death benefit, however. It can also help create financial security for seniors who are concerned that their savings is insufficient to last their full retirement.
Whether your life insurance policy will be used to create tax-free income, benefits for survivors, pay for final expenses, pay estate taxes or all of the above, a life policy is an important tool in every senior’s financial chest.
Topics We’ll Cover
This month we’ve got a range of interesting and informative topics that will help you with various decisions you need to make regarding the maintenance, sale and purchase of a life insurance policy.
- Do you have lost benefits out there? There are ways to find out whether you were a life insurance beneficiary who never received payment and to make sure that doesn’t happen to your family.
- Guaranteed issue policies. What are the upsides and downsides of those guaranteed life insurance policies you keep seeing on television and in your mailbox?
- Selling your policy: Selling your insurance policy through a life (or viatical) settlement can be a risky proposition. Find out why.
- Can you use life insurance to pay for long-term care and other expenses related to aging?
We’re excited to share with you all this information about life insurance to help you make better financial decisions now and into the future. But we’re not the only site celebrating Life Insurance Awareness month. If you run into other articles that you think can help seniors, or if you have questions you want us to cover in a future blog post, leave a comment on our Facebook page!