To Be, or Not To Be Covered: Life Insurance In Retirement

Mar 01, 2017

The usual consensus is that your clients who are close to retirement (or are already retired) don’t need to purchase life insurance. However, we know that insurance is not a one-size-fits-all scenario. Although clients see retirement as the financial end-game, there are still certain exceptions where having a life insurance policy through retirement makes sense:


1. Poor Health - Fidelity Investments estimates that a 65-year-old couple who retired in 2016 would need $260,000 of their own savings to handle 20 years of out-of-pocket retirement health costs. If clients are going into retirement and they believe they’ll have health issues arise in that time, a term policy with living benefits can help pay for health expenses later on.


2. Longevity - According to data collected by the Social Security Administration, about one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95. With numbers like that, it certainly adds value to the argument that a diverse portfolio that includes cash value life insurance could be a good option for some folks.


3. Long Term Care - Based on a report from AARP, the lifetime probability of becoming disabled in at least two activities of daily living or of being cognitively impaired is 68% for people age 65 and older. By purchasing a hybrid life product with long term care options included, clients can safeguard themselves from the bulk of costly LTC fees in their retirement age.





Category: Retirement

Category List


Tag List

underwriting (1)
Deferred Fixed Annuities (1)
E-App (1)
Marketing (12)
permanent life insurance (1)
Retirement Investment (4)
PPC (2)
Generation Y (1)
Production (1)
end of year (1)
injury (1)
trends (1)
Life Insurance (84)
Beneficiary (1)
business solutions (3)
Long-Term Care Awareness Month (1)
Retirement (10)
private pension funding (1)
leads (6)
instant decision (1)
Insurance (21)
Alternative Investments (2)
Financial Planning (20)
Income (1)
Prospecting (4)
key person (1)
Social Media (8)
Life Insurance Trends (19)
business owners (3)
Health Care (1)
business (1)
Brokers Alliance (8)
Life Insurance Check Up (6)
Cash Value (1)
presentations (1)
case studies (2)
rates (1)
Retirement Strategy (4)
Investments (2)
Indexed Annuity (3)
training (2)
estate planning (2)
Content Building (2)
Facebook (2)
Life Insurance Evaluation (8)
Legacy (1)
Annuity Concepts (12)
Charitable Giving (3)
Clients (2)
Market Exposure (1)
DOL (2)
Annuity Update Show (11)
products (5)
advanced markets (1)
Advice (1)
funeral (1)
Life Quotes (3)
Gender Gap (1)
illness (1)
Universal Life Insurance (2)
Leaderboard (1)
gul (2)
life 101 (2)
Life Insurance Brokers (6)
Financial Legacy (6)
Long Term Care (3)
Gift (1)
Tips (3)
Income Planning Academy (1)
Breast Cancer Awareness Month (4)
Sales Concepts (12)
MYGA (9)
term life (8)
Healthy Living (1)
Waste Management Open (1)
Interest Rates (1)
sales presentations (1)
FIA (1)
Financial (4)
Training Event (1)
Looking Forward, Giving Back (1)
advanced planning (2)
selling (1)
Legacy Planning (1)
IUL (12)
Roth (1)
Additional Earning (1)
earning opportunities (1)
Star Wars (1)
non-med (3)
sales kit (1)
Sales (22)
consumer marketing (3)
Breast Cancer Research (1)
Growth Opportunity (1)
Tax Benefits (2)
Webinar (1)
Charity (2)
IRA (1)
Required Minimum Distribution (1)
hiring (6)
Brokers (2)
Immediate Fixed Annuities (1)
Protection (1)
Video On-Demand (1)
2019 (1)
Variable Annuities (1)
Benefits (1)
Life Insurance Awareness Month (6)
RMD (1)
Alternatives (4)
Premium Finance (4)
march madness (1)
Baby Boomers (1)
review (2)
Fixed Annuities (8)
term (6)
final expense (1)
Retirement Planning (23)
Executive Bonus Arrangement (1)
Life Insurance Broker (15)
Best Rates (1)
networking (1)
industry trends (1)
Pitch (1)
Donation (1)
living benefits (6)
Brand Values (1)
PIA (2)
Annuities (29)
Life Insurance Update Show (9)
Death Benefit (2)
premium deposit account (1)
social security (1)
Brokers Alliance Open (1)
Media (2)
resources (1)
business planning (5)
Millennials (6)
Mobile App (1)
Social Optimization (3)

Tag Cloud

Life Insurance BrokersIndexed AnnuityProtectionLife Insurance TrendsFinancial Planningbusiness ownersindustry trendsratesLife Insurance EvaluationLife Insurance BrokerProspectingadvanced planningMobile App2019trainingkey personunderwritingAlternative InvestmentsBrokers AllianceMillennialsHealth CaresellingPPCLife Insurance Check UpExecutive Bonus ArrangementProductionBrand ValuesDeferred Fixed AnnuitiesLong Term CareIRAliving benefitsPIAGender GapinjuryE-AppBrokersSales ConceptsRMDIncome Planning AcademyIncomeWebinarVariable AnnuitiesSalesUniversal Life InsuranceAnnuity Conceptslife 101AnnuitiesStar WarsleadshiringInterest RatesLegacy PlanningTraining EventLegacyFIALong-Term Care Awareness Monthbusiness planningpermanent life insuranceRothFixed AnnuitiesClientsresourcesbusiness solutionsWaste Management OpentermDeath BenefitpresentationsbusinessBenefitsGrowth OpportunityRetirement PlanningGeneration YIULRetirementBest Ratesadvanced marketsRetirement Strategyconsumer marketingLife InsuranceMarket Exposurenon-medContent BuildingillnessBreast Cancer ResearchRetirement InvestmentCharityPremium Financeterm lifeLife Insurance Awareness MonthFinancialDOLHealthy LivingImmediate Fixed Annuitiesearning opportunitiesAlternativesGiftsocial securityInsurancemarch madnessfuneralgulend of yearinstant decisionBrokers Alliance Opentrendssales presentationsLooking Forward, Giving Backprivate pension fundingVideo On-DemandSocial MediaMYGAsales kitCharitable GivingBeneficiaryTipsAdditional EarningreviewMarketingInvestmentsLife Quotescase studiesBaby BoomersFacebookPitchnetworkingCash ValueLeaderboardBreast Cancer Awareness MonthTax BenefitsSocial OptimizationDonationRequired Minimum DistributionAnnuity Update ShowMediafinal expenseLife Insurance Update Showestate planningFinancial Legacypremium deposit accountproductsAdvice


Archive