Senior Citizens Working After Retirement
Those heading back to the workforce from retirement may be able to invest their earnings in a life insurance policy.
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This is a list of articles that we have written for you regarding Life Insurance spending; how much should you spend on life insurance.
Who Benefits the Most From Life Insurance?
The decision of whether or not to purchase a life insurance policy should be weighed as heavily as other long-term financial investments, because the decision will affect those you leave behind.
Read MoreHow Can I Cash In My Life Insurance Policy When I’m Older?
It’s called a “life settlement” and it’s one way seniors can cash in on their life insurance policies. Those who no longer want to pay premiums or have any need for the coverage are often able to demand higher prices when selling their life insurance to an investor rather than their insurance company. Policies sold by those approaching the end of their lives are particularly valuable, according to a recent report by NBC.
Read MoreAre You Ever Too Young for Life Insurance?
There are many benefits associated with getting a life insurance policy as a young adult.
One main benefit to purchasing life insurance at an early age is price. When a person is young and healthy they are likely to get a less-expensive quote on their life insurance policy.
Read MoreFactor Debts and Assets Into Your Life Insurance Coverage Amount
Life insurance should only be purchased after consumers understand their financial situations and consider changes the future may hold.
Read MoreTapping out Your Retirement Savings Too Early
Financial planning requires more than just diligently putting money away in a savings account and living a frugal lifestyle. Those who are serious about their financial well-being would be wise to invest their money in various retirement accounts and life insurance. Having a range of investments can help ensure financial security.
Data from Fidelity Investments shows that while some people are being smart with their finances and putting money away in 401(k) accounts, others are actually borrowing against them.
Read MoreLongevity Risk and How You Can Avoid it
Purchasing an annuity is one way to protect against longevity risk in your retirement.
This risk occurs when individuals approach the end of their savings long before the end of their life. Annuities and other risk-pooling options may help them accumulate nearly 50 percent more than they would on their own, according to the American Academy of Actuaries.
Read MoreSocial Security System Explained
But with the demise of many 401K savings and pension plans and the rise of health care costs due to the recent recession, many Americans are finding it tough to retire with the means to live stress-free on Social Security benefits alone.
Read MoreBaby Boomers Are Better Financial Planners Than Younger Generations
According to a recent study by LIMRA, Generation X and Y Americans are more concerned about retirement savings and life insurance than Baby Boomers.
Read MoreMillennials are saving more than expected, study shows
According to the Transamerica Retirement Survey, researchers found evidence that employed Millennials to be an emerging generation of superb retirement savers.
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