Know significance of affordable life insurance
Live as Well Tomorrow, With a Guaranteed Lifetime Income Stream
Not only can guaranteed lifetime income help provide peace of mind in retirement income, it also can help you optimize your income in retirement and plan the best use of your assets, so that you can live well.
For instance, by purchasing a Lifetime Income Annuity, you can help ensure that certain expenses will always be covered. You can earmark this lifetime income to cover rent, medical bills, insurance costs, and trips to visit family—in short, anything that you know will be a regular expense for the rest of your life.
By knowing that guaranteed financial planning lifetime income will cover your regular expenses, no matter how long you live, you can spend other assets with confidence. You can consider investing your other assets more aggressively, if you wish. And because your need for discretionary income may decrease as you grow older and are less likely to be active,4 you can also consider using those assets to more fully enjoy the more active early years of retirement.
That's why whether you are already retired or are approaching retirement, you should think about the emotional and economic benefits that New York Life's Lifetime Income Annuity can have on your retirement.
Protecting the Stay-at-Home Spouse
When married couples have young children, often one spouse stays home while the other works outside the home. While most parents understand the financial planning necessity of purchasing a life insurance policy on the income earner, few realize the importance of also insuring the stay-at-home spouse.
Being Prepared for the Unexpected
What if the stay-at-home spouse suddenly became ill, disabled or died? The family would be devastated. Friends and family members would initially pitch in to help. But, eventually they would return to their regular lives. Before the surviving spouse returned to work, a caretaker for the children and home would need to be hired, presenting a potential financial hardship. But, had life insurance been purchased on the stay-at-home parent, the family's needs would have been protected.
