Life Insurance

Life Insurance For Retirement

Should You Purchase Life Insurance For Retirement?

If your family is dependent on your income, you should consider purchasing life insurance for retirement. You want to be able to enjoy your retirement, and still leave an inheritance for your loved ones. And, thankfully, you can accomplish both of these things with just one product. With the right type of life insurance, you can gain numerous benefits other options may not be able to offer you.

There are quite a few different types of life insurance. Which type would best fit you and your situation? Providing for your family is one of the most important parts of preparing for the future. Schedule a meeting with Suncrest Wealth Management, and we can discuss what type of life insurance would be best for you. We can also walk you through other important aspects of planning for retirement. One option we would recommend is an indexed universal life (IUL) insurance policy.

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Benefits of Life Insurance For Retirement

Life insurance for retirement comes with a number of benefits.

First, let’s break down the features of these products that will help you during retirement:
  • Protection for the cash value of your insurance policy, even in the event of a market downturn
  • Cash value growth is based on the performance of a market index
  • Tax-free* growth + tax-free* access to your principal & interest
  • The option to “lock in” the interest you accumulate
  • No fees or fines for accessing your cash value before reaching age 59 1/2
Then, let’s list off benefits offered to your heirs after you pass away. These include:
  • Immediate death benefit (avoids going through probate court)
  • Death benefit is tax-free*
  • Furthermore, the death benefit may be much greater than the premium paid
  • And, it can increase over time
  • It can be received as a string of payments, or as one lump-sum
older couple benefitting from life insurance for retirement
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