You might be thinking that as an empty nester it seems counter intuitive to evaluate your life insurance. If you still owe money on your mortgage or have other debts, life insurance and/or disability insurance might still make sense. Life insurance could also help pay the estate tax bill when you pass, while still preserving the retirement you saved.
Have you thought that your age and health will prevent you from getting more life insurance? One type of insurance that most empty nesters qualify for is called final expense insurance.This type of policy usually ranges in face value of $10,000 to $75,000. There is little or no underwriting, so most can qualify. This option is only intended to cover your final expenses if you were to die.
This just shows that you might have options that you haven’t considered. The best way to find out your options is to talk to one of our Garda Insurance Specialists. They will help you analyze what you currently have and educate you on what your options are.
Life Insurance Needs Calculator