Do you have enough Life Insurance? According to a Corbridge financial survey, 50% of Americans report not having a life insurance policy. Sixteen percent of those surveyed reported having a policy through their workplace. So, ponder this for a minute. Do you have a work policy worth more than $100,000? Now think, if you were to die today, would your family be able to live like they are accustomed to? Think about all of your assets, debts, etc. Will your family be able to pay off the mortgage, keep the car payment, and pay for groceries?
What if you were to have a stroke, heart attack, etc., and needed long-term care? Who will cover those expenses? Has anyone recently priced long-term care facilities? The prices will blow your mind. The same survey mentioned above also states that 76% are aware that debts you leave behind when you die can consume assets you intended to pass on to your heirs. Did you know that some life insurance policies can provide benefits while you are still living?
This is not a subject many like to discuss, but it is an essential reality for everyone. This is not only an important topic for retirees, but also for young adults. Purchasing life insurance while you are young and healthy is less expensive than when you are older. Prices for everyday items are increasing daily and are unlikely to decrease soon. This is why it is essential to ensure that you have an adequate life insurance policy that provides long-term care when you retire.
You may be thinking, What does this have to do with retiring from the state? Preparing today will save you and your family in the long run. Contact The Mississippi Producers to see ways that they can help you prepare for a better retirement.
