Life insurance and retirement
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3 Ways Life Insurance Can Help Maximize Your Retirement

  • January 18, 2018

How Life Insurance Can Help Retirees

If you’re retired or looking to retire, you’ll already know the benefits that not working can bring to the mind and body. During this time, your financial obligations may have ended, too. What you may not know is how your permanent life insurance in Thousand Oaks, CA can maximize your retirement.

It can help protect you against the risk of outliving your assets. With a correctly structured policy, you can secure supplemental retirement income via policy loans and withdrawals. Having a policy to draw from can take the pressure off investment accounts if the market is sluggish, giving them time to rebound. Some policies may also provide options for long-term care benefits.

It can ensure you leave a legacy. Believe it or not, but life insurance is a useful and flexible estate-planning tool as it’s commonly used to pass on assets to loved ones. Policy proceeds are generally income-tax free and are paid directly to your beneficiaries in a cash lump sum. Your policy can also be used to pay estate taxes and ensure the continuity of a family business.

It can maximize a pension. Many people looking to retire are faced with a choice between taking a single life distribution of pension, or a lower amount that covers a surviving spouse as well. Life insurance can supplement a surviving spouse’s income, enabling couples to enjoy the higher, single-life pension together.

Your licensed insurance agent can help you assess your situation and adjust a current policy or structure a new policy to help you achieve your retirement goals.

Falsken & Associates Insurance Agency provides reliable life insurance in Thousand Oaks and neighboring cities in California. Contact us to get started on your important policy.