10 Reasons to Consider Life Insurance as Part of Your Retirement Strategy

You own life insurance because protecting the financial security of your family is important to you.  However, permanent life insurance may also offer you several solutions as part of your overall retirement strategy. Consider these ten reasons to consider life insurance to meet your death benefit needs, as well as how it may serve to enhance your retirement:

1. Serve as a source for final expenses, such as estate and inheritance costs.
2. Help to replace lost income in the event of your death, even if you’re working a “retirement job.” Times have changed and “retirement” doesn’t necessarily translate to “no longer working.”
3. Replace all or a part of your spouse’s or partner’s pension benefits. This may be especially important if you come to depend on his or her full Social Security or other pension income.
4. Pay off a mortgage or other debt that you may leave behind.
5. Financially support dependents, such as aging parents or a loved one with special needs.
6. Help protect or create a legacy by, for example, providing the money needed to meet any tax liabilities from taxable retirement accounts.
7. Provide you with continued coverage, especially when your employer-sponsored group life insurance coverage ends when you retire.
8. Provide withdrawals or loans to supplement your retirement income.¹
9. May offer riders that could potentially allow you to accelerate the death benefit (while you’re living) to use for any reason should you become chronically or terminally ill.
10. May offer additional features and benefits that can help provide your family with the financial security they need.

Learn more about how life insurance can serve as part of your overall retirement strategy by reviewing our brochure,“Life Insurance in Retirement Planning.” 
A financial professional can help you to identify your needs, along with how life insurance may be able to solve for them. To start the conversation about life insurance and your retirement strategy, click here.

¹ Outstanding loans and withdrawals will reduce policy cash values and the death benefit and may have tax consequences.
Life insurance is issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ) and Pruco Life Insurance Company of New Jersey (in NY and/or NJ). All are Prudential Financial companies located in Newark, NJ. Insurance policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your financial professional can provide you with costs and complete details.
Neither Prudential not its representatives give legal or tax advice. Please seek advice from your professional advisors.
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