Rigel Hines and Associates Blog
If you’re a retiree or even if you’re 20 years before retirement, life insurance is necessary. Sadly, for many retirees, they think life insurance is only for those who are sickly. Life insurance is not only for those with critical illnesses. There are many ways that your life insurance benefits can help you in your retirement years.
If you’re reluctant to buy long-term health insurance for any reason, then you can have life insurance instead. Life insurance can provide for your death benefit as well as nursing and hospice care costs. You can also have many more riders to choose from.
Pension Replacement for Spouse
If you rely on pension income for all your retirement needs, then that's good. However, your spouse or dependents are not a part of your pension income. Thus, if you have life insurance, the life insurance benefit can help the rest of your family members. No matter how high the pension income is, life insurance will guarantee your beneficiaries some amount upon your death. A pension income can't give that.
Your life insurance benefit is the best way you can leave money to your spouse or children. You can also use this benefit to leave money to your other loved ones. Sometimes, your last will doesn’t include your children or spouse from a previous marriage. Thus, you can use your life insurance benefit to leave them something. You can also use this to benefit a charity of your choice later on in life.
You wouldn’t want to leave property to your kids if you haven’t paid the mortgage on it. The last thing you would want to leave your kids is more expenses for them to pay. You can use your life insurance policy to pay off your debt and mortgage. That will leave your property clean if your children inherit it someday.
You can use your life insurance benefit as your emergency fund. You can use it to pay taxes, bills, and other expenses. If you don’t have life insurance, you might end up selling off property. Thus, your life insurance benefit can protect your property, savings, and other investments.
Some Final Words
Your life insurance is more useful to you than you think. Make a prudent choice of getting life insurance now while you’re not too old to pay for it. Take the time to do your own research on life insurance while you seek guidance from your insurance agent.
At Rigel Hines and Associates, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (708) 283-7316. Get your free quote today by CLICKING HERE.
Phone: (708) 283-7316