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Life Insurance

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Do You Really Need Life Insurance In Retirement?

Do You Really Need Life Insurance In Retirement? Most people understand the reasons for having life insurance during their working years. But, sometimes people wonder, “Do you really need life insurance in retirement?” Fair question. In some cases, people obtain life insurance in their working years. First, they do this to protect their household income. …

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taxes on life insurance

DO BENEFICIARIES PAY TAXES ON LIFE INSURANCE?

Lately, we have been asked about taxes and life insurance. Specifically whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. However, there can be nuances involved. For example, taxes can depend …

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insurance for retired people

Insurance needs change when you retire

This week’s article reminds us that “Senior insurance needs are different. Time to drop the disability coverage and review your other plans.” The most obvious insurance retirees need to maintain is health insurance. While most seniors age 65 and older are eligible for Medicare, Medicare doesn’t cover 100% of medical costs.” Knowing this, it is …

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