Life Insurance for Those Recently Retired or About to Retire
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September 12, 2006 | By: | 
Comments (3) |
Life insurance needs may not be as high as they are at other stages (i.e. having a baby, getting married) in life for those that are newly retired. But, it is also true that most new retirees do need to think about maintaining an adequate level of coverage.
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Simply consider your children or spouse you may leave behind. Even though your children may be grown and on their own, and your spouse may be able to live comfortably on his or her retirement savings, there are many special circumstances in which they may find themselves in financial trouble if you were to pass, or vice versa, you if they were to.
If you are very ill before you pass away, you will incur many health costs, many of which may be passed on to your spouse or children if you pass away. Many seniors may have to live with a child if they are on their own and need help, and this may put a financial burden on the affected family members. There are also funeral costs to consider. It is important to ensure that your family members can recoup any financial losses after you pass away.
- Life Insurance: Different Needs For Different Stages of Life
- InsWeb Life Insurance Learning Center
- A Quick and Easy Way to Find Affordable Term Life Insurance
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Comments (3)
Sara
September 15, 2006 11:58
Russel- You're right to a degree. However, I honestly don't understand anyone thinking the government owes them anything - hard worker or not. The wisest thing to do is plan ahead. You cannot depend on anyone - especially the government.
Rachel Rutherford
September 14, 2006 13:11
You should consider life insurance at an early age. This way it can be more affordable as life passes.
Russel Roth
September 12, 2006 21:48
Unfortunately what you don't talk about is the fact that a lot elderly people never saved for retirement so leaving something behind for their spouse or as you say, "offspring" is a more desparate thing. The government (all administrations) are squandering social security and that needs to stop. Young people these days are just looking for a quick buck, but we worked hard for ours. I suggest you stand in line and pay your dues like we did. if you dare sensor my comments you're everything that's wrong with today.