“EMPTY NESTERS” DO YOU NEED LIFE INSURANCE AFTER THE KIDS LEAVE HOME?

Most of us think about buying life insurance when our children are young.  Once they move out of the house, do we really need to keep our life insurance policies?  Absolutely!

If you don’t have children, or if your children are grown, here are FIVE REASONS to own life insurance:

1. To Meet Your Commitments: You and your spouse worked hard together attaining your goals.  Most couples make financial decisions based on two incomes. Whether it’s a mortgage, car payment or general living expenses, life insurance on each wage earner enables the surviving spouse to continue meeting those expenses.
2. To Provide Financial Support To Others:  If you have parents that are still living, or an adult disabled child that depends on you, life insurance proceeds will help continue this support if you pass away before them. See: Daydreaming Thoughts From a Mom
3. To Cover the Social Security “Black Out Period”: Life insurance can provide additional income to your spouse until he/she is eligible for survivor benefits under Social Security. Social Security pays nothing from when the youngest child leaves high school and survivor benefits begin at age 60. This time period is called the “blackout period.”
4. To Pay For Unplanned Expenses: Survivors can use life insurance to pay for funeral expenses and unexpected medical costs. Increasing health care costs along with higher deductibles and coinsurance could affect your estate if you were hospitalized prior to your passing.
5. To Provide A Rainy Day Fund: You and your spouse can use the accumulated cash value in your whole life insurance policy for retirement or a rainy day fund.  If you die prematurely, your spouse’s retirement benefits will also be lower; life insurance can provide funds to offset that as well.

We are here for you!

PFP | The Family Security Plan® now offers affordable and easy to obtain coverage for seniors. The senior market is unique because as you age, you often have health issues that would otherwise make it difficult to obtain an affordable life insurance policy. PFP | The Family Security Plan® Whole Life Insurance is designed to be affordable and simple to apply for. There is no medical exam or working eligibility required.

Let us help provide peace of mind for your family. Visit our Whole Life Insurance page for more information or call 855-789-4976 to speak with a dedicated PFP | The Family Security Plan® Representative.

Written By Robin Fox, RHU, CSA