October 25, 2019 // All Lifestyle
The phrase “Baby Boomer” is often used as an umbrella term to describe individuals born in the years following World War II. According to the U.S. Census Bureau, anyone currently between the ages of 54 and 72 is considered a Baby Boomer.
Because of this 18-year age gap, it makes sense that Boomers in their 50s are likely to have different financial needs and concerns than Boomers in their late 60s and early 70s. Life insurance and annuities can address these individual needs in unique ways.
Baby Boomers who are still working may want to explore ways to protect and grow their upcoming retirement plans, and to help protect their families. Life insurance or an annuity can help in distinct ways for this age group:
Accumulator and LifeTime Universal Life insurance can be a great fit for these types of needs.
A platinum bonus annuity can help grow retirement assets and provide a steady stream of income.
Baby Boomers who are retired may be thinking about their final expenses, leaving a legacy, and ways to not outlive their savings.
Universal Life can provide a way to leave a legacy. Whole Life insurance can help your family take care of final expenses.
As your life progresses, converting your life insurance policy is something that you may consider.
The kids are gone and you’re officially an empty-nester, so it’s a great time to get rid of your life insurance, right? Not so fast.
Understand how you’re covered through work, the difference between group, voluntary and individual life insurance explained