Life insurance
Life insurance can protect the legacy your retirees worked so hard to build. However, while life insurance is typically offered as part of an employer benefit package, it may not carry over into retirement or may no longer adequately meet a retiree’s needs. Retirement is a good time to review life insurance needs, ensuring policies still serve as the safety net they once did.
Supplemental life insurance may be a good fit for retirees that no longer have employer sponsored life insurance or find themselves underinsured by pre-retirement benefits. The lump-sum payment associated with these plans can be used by a beneficiary for a variety of purposes but is often used to cover final expenses such as funeral and legal fees, secure debt and ensure loved ones are financially protected. In addition, life insurance can be used as a vehicle to leave a life legacy via a charitable contribution.
Popular Plans & Examples:
$150k of whole life insurance for a 60 yr old
Monthly premium is $562
$25k of Final Expense insurance for a 60 yr old
Monthly premium starts at $94
Through our individual marketplace, we offer a variety of life insurance plans including term, retiree and whole life options. Rather than offering predefined product bundles, we offer plans that are tailored to fit retiree needs and budgets. Life insurance options are competitively priced, and some allow plan modification without additional underwriting. In addition to a variety of underwriting options, we offer multiple plan designs and plan features so retirees can get the coverage they desire from an insurance provider they trust Coverage options for participants seeking life insurance protection. That’s where our expertise comes in. We will provide guidance to your retirees to wade through, and make an informed decision about, the life insurance that works for them.
We offer assistance through Term Life, Whole and Retiree Life products. Some products are Guaranteed Issue and some are simplified issue (with underwriting taking place over the phone). Others requires medical underwriting.
New retirees have access to the most plans and the cheapest premiums; Guaranteed Issue plans are available within 60 days of retirement and premiums are much less in this time-frame.
DISCLAIMER: This information is not a complete description of benefits. Contact the plan for more information. Available issuing companies will vary by state.
