Do I Need Life Insurance After I Retire

Berks County is a great place to retire. Pennsylvania is a state that is very laid back for retirees making it attractive as a destination for seniors.  As you start making financial decisions about your retirement you may be asking yourself,  ‘Do I need life insurance after I retire?" This is a big decision and one that Berks County Insurance in Reading, PA would be happy to discuss with you. 

It is tempting to think of life insurance as you get older as less than necessary. Keeping up the premiums may seem as if it would put some stress on your new retirement budget or you may think that it just isn’t needed. Before you decide that it might not be necessary, you need to take a look at the reasons that you purchased it originally. Do you still have a spouse or partner who counts on your income to maintain their lifestyle?

When you die, some of your retirement income may go away with you, but will the income that is left be enough?  Hopefully, you are not going into retirement with a lot of debt. Some people still have a mortgage that will need to be paid, as well as a car payment and credit card debt. Have you already prepaid your final expenses? Do you want to leave money to your children or grandchildren? 

Determining whether or not you need life insurance after you retire depends in large part on your overall financial plan. You may not need the same amount that you needed when you were younger and a different type may be better for you. Talking to the experienced team at Berks County Insurance in Reading, PA can help you to make the right decision for your situation. Give our office a call or stop by and let us help you to protect your financial future.