The simple answer to whether you need life insurance when you retire is YES!
There are three broad categories of people we will consider for this purpose!
Category A: Debt Paid – People who have their debt paid and have some savings
Category B: Debt Almost paid – People who have some debt and usually is linked to an investment property
Category C: Debt Partially paid – There is considerable debt but at retirement plan to downsize.
Most people in the above category have their money invested in property and usually have cash invested in long term assets which are generally drawing an income which is sufficient to provide an income life long and leave plenty to the estate.
Here’s the thing, as long as everything is going well and if all our well laid plans are always executed without any unexpected event then you probably should not consider insurance. Here’s the kicker past 65 years age the chances are higher for things to go wrong!
The usual misconception is that personal insurance is life insurance and pays out on death. I am here pointing to Trauma insurance which pays a lump sum in terms of significant illness that may require a change of life style. There is Terminal Illness cover which is a cheaper option of life cover but something for the people who do not have to worry about leaving an estate behind to family.
Here’s the thing when things go wrong, even if there is free public health system it’s the time when you are counting months or years ahead have money in hand just makes it easy to look forward to life.
Call us today on 0800456427 to discuss your needs.