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The Puritan Advisor

Author: Puritan Life Created: 5/15/2010 7:06 AM
Life Insurance can be a powerful tool in planning for retirement or estate planning. This blog focuses on the uses of life insurance for these purposes

When you were younger, you had life insurance to protect your family in case you passed away and could no longer provide for them. Now that you’re getting older and passing into retirement, you’re wondering if it’s still important to have life insurance for seniors. You’re not supporting them anymore; they can do it on their own. So, why do you need life insurance still?

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Understanding the differences between Single Premium Indexed Life and indexed annuities can be confusing. Many of the features between these two products overlap, although there are some distinct differences.

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Buying life insurance can be painful.  A life insurance agent that understands senior's needs, and takes the time to educate their clients can go a long way to easing that pain.

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There are many reasons to buy life insurance.  Seniors today have younger children, and many seniors are still paying for education into their retirement.  Many seniors have special needs children, or simply want to provide an inheritance for their family. When retirement planning, consider how you want to provide for your children's future.

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When buying life insurance, it's important to review the reputation of the insurance carrier.  Do  they have customer service issues?  Are they known for paying benefits on time and in full?  Consider the reputation of a carrier prior to purchase, and you could save yourself major headaches in the future.

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When planning for life insrunace, it's impotant to consider what you can afford for a premium.  Take the time to consider your financial situation, and make sure that your choices are ones you can stick with.

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Many Seniors have debt much later in life.  Mortgages, adult kids at home, unforseen medical expenses, etc., can eat away at an estate an cause much grief for those left to deal with the mess.  When planning retirement, consider life insurance as a srategy for dealing with debt if the net value of your estate isnt where you want it to be.

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Life Insurance is worthless unless you have the confidence that the Insurance carrier can pay the benefit when you need it.  Be sure that any carrier you look at has an excellent financial rating. How can you tell?

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Buying life insurance can seem complicated, but with Puritan Life, we make it as easy.  Life Insurance carriers rate certain risks differently.  If your agent doesn't represent multiple carriers, how can you get the best deal possible?

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Does your agent do all the talking?  If so... how will they ever know if the policy they are offering is specifically suited to your needs?

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Buying Life Insurnace for Seniors can be a little daunting.  Over the next several days, we will be providing the 10 things you should look for and consider when choosing the right life insurance for you!

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For many seniors, single premium life insurance can provide both the flexibility and the protection to be a valuable part of their retirement income plan.

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You have provided for your spouse and loved ones your entire life.  If you want to continue to protect them for the entirety of their life, consider joint life insurance.

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Permanant Life Insurance is a great option for Seniors to provide protection to their loved ones, while having some flexible options if their life situation changes. 

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It’s no secret that 2009 was a difficult year for Americans, particularly those staring down retirement. Retirees are turning to their whole life insurance policies to see them through the lean years.

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If you’re over 65, you may be thinking to yourself that you don’t really have a need for life insurance coverage any more.

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