Won’t the government pay for my final expenses because I’m on social security?
The short answer is no. Social Security only pays a tiny $255 death benefit.
If I already have life insurance, can I get additional coverage?
Absolutely! Getting additional coverage is a great idea! It’s called policy stacking, and it allows you to get the amount of coverage you desire if an insurance company is limited in what they can offer you.
I have enough money and don’t need life insurance!
You’re a wise retiree and are good with money! Savvy retirees like you know that if you’ve got enough money to write a check for $21,000 right now, then you’ve got enough money to pay a small premium, so you don’t have to!
I can’t afford to buy insurance!
I help many people in the same situation that make way less money than you. Let me run a couple of smart options by you that may help, and what you do with this information is up to you.
I need to wait before making a decision.
You know we have today, but we are not promised tomorrow! Your goal is to get the coverage you want to keep the burden off of your loved ones, so don’t wait. And the longer you wait, the harder it becomes and the more expensive it becomes. I know people who didn’t act while they had the opportunity, and they ended up leaving behind a legacy of regret.
What’s the difference between term and whole life insurance?
Term has an end, while whole life doesn’t have an expiration date. You may have term insurance through an employer, but this will likely end after 5, 10, 15, 20, 25, or 30 years. We look at whole life options for retirees because it offers that peace of mind knowing your coverage doesn’t expire and your rates don’t go up.
Can I choose who my beneficiary is?
You can choose whomever you want as your beneficiary, and you can change this at your discretion.