As you prepare for your retirement, I highly recommend developing a plan!
The plan would consist of taking a long look at what your cash flow and income are going to look like, what your asset to debt ratio looks like, where are my accounts and how diversified am I, and what balance do I need now with the assumption that we have low debt and children educated.
This is where life insurance and annuities should be a part of your portfolio. We think of life insurance in many respects. It is a tool that can be used throughout our life for various reasons and as our life changes, so should our insurances.
For example, if I have a 30-year mortgage on my real estate. I may want a term life insurance policy to cover that in the event of my passing so that my family is not forced out of their home. Another example may be a buy-sell agreement between a buyer and a seller of a business so that the business remains operable in the event of a loss of a partner until the details are resolved. Successorship planning definitely involves life insurance.
There are many types for many purposes. We will assess your needs and make recommendations accordingly. Call me for a consultation today.