Six Reasons People Buy Life Insurance After Sixty – Part two FOUR: You can decrease your taxes and increase your future income. Many seniors cash in their stocks for bonds as they approach retirement. However, there is an alternative strategy that may work much better from both a cash flow and net worth (value of…
Part 1 in a two-part series Reason One: Seniors purchase life insurance to pass more money to their spouse, heirs, or a favorite charity. Typical financial advice goes something like this: “You won’t need life insurance once your children are grown.” That advice leads people to think that term insurance is the only option when…
Pros and Cons of Life Insurance for Seniors In spite of the advantages, there are also times when it’s not possible or advisable for seniors to purchase life insurance. Here are some considerations to keep in mind. PRO/CON: It may be harder to qualify for a policy… but there are alternatives. People in their 60’s,…