20 Financial Tips for Retired Married Couples
20. Account for Life Insurance Needs
As we all age, the need for life insurance to help get the kids through school decreases. Once hitting retirement; however, one should not be surprised if there are requirements that in the event of an untimely death of one member of the family that should not be able to be overcome. The best time to purchase a new term policy for either member of a married couple is prior to hitting the age of 50. There are a variety of term insurance policies available depending on one’s health and use of tobacco that are significantly cheaper in this age bracket with coverage for 20 or more years vice waiting until either person in the marriage turns 50 or has a diagnosis of cancer.
