Life Insurance
Life Insurance After Retirement
The main purpose of life insurance is to provide for your loved ones after you've passed away.
If you need help navigating different options for life insurance after retirement, we can help you. You want to make sure your family has the income they need after you’re gone.
A death benefit isn’t the only thing that a life insurance policy can offer you. Your financial goals likely change when you are nearing or in retirement. Retirees generally look for ways to reliably protect their money, rather than risking it by investing it in the stock market. Additionally, financial goals can change over time.
Choosing the Right Policy
Retirement comes with challenges, such as tax implications, which may impact your retirement strategy. Selecting the right life insurance after retirement is vital. Fraga Financial can provide you with the information and resources to protect your money and the people you care about.
What is Indexed Universal Life Insurance
Indexed universal life (IUL) insurance can provide you with protection during retirement. It comes with a death benefit, like other life insurance products. However, it also allows you to utilize stock market returns, without risking losing money. Because your money is held by the insurance company, your principal amount is protected. You can also tie your rate of return to an index. Unlike investing your money directly, you won't lose money when the market declines. An IUL protects your money regardless of what the market does.
Retiring Tax-Free*
Are there really tax-free retirement options? There aren't, entirely. Some IUL policies may allow you to receive an income that's not taxable, but not in all cases. Tax-free* income can also be obtained using a Roth IRA or other Roth 401(K) plan in retirement. There may be other tax strategies you could utilize, based on your retirement strategy. For example, a max cash value life insurance policy could potentially get you tax-free* income.
Options For Life Insurance After Retirement
We understand how important it is that you provide for your family. Get in touch with us to discuss your life insurance options today.
