Life Insurance for Empty Nesters

Understanding Your Life Insurance Needs As An Empty Nester Many parents assume that they no longer need life insurance once they become an empty nester and their children have their own little tikes to chase after, but this is simply not the case. There are a handful of reasons why you still need life insurance, even after your children grow into responsible adults. Reasons Why You Still Need Life Insurance: • Think about your long term goals. Even if you have already gotten your children through college, you may want to help your grandchildren fulfill their college dreams. You must also consider your spouse’s financial stability in the event that you were to unexpectedly pass. • Do you have anyone else depending on you financially? Your spouse? Your parents? This is important as you will want to be able to continue to offer support to these loved ones. • Life insurance can also help to account for the blackout period associated with Social Security benefits. Also, this ensures that you do not need to dig into your Social Security survivor benefits and experience a permanent benefit reduction. • Life insurance can also help to offset lost retirement savings, such as an employer sponsored pension or IRA. This ensures that you are not negatively affected by reduced retirement savings after a salary increase. • Unfortunately, none of us have an expiration date. Therefore, we must prepare for the unthinkable. Life insurance helps to account for unplanned expenses that may result from a premature death. • Life insurance can also help you avoid leaving your heirs with inheritance taxes as this can be a clause of your policy. Some heirs must sell some of the estate they received to cover these fees, but with life insurance you can take this burden off of their plate. Serving Chino Hills, Seal Beach, Long Beach, Los Angeles, and the rest of California, contact Fuller Insurance for all of your insurance needs.