As many people near retirement age, they discover that either they don’t have enough life insurance, or their life insurance was provided by their employer and ends when they retire.
Mutual of Omaha and some other insurance companies have designed products for exactly this scenario. These products can be bought even if you’re not in the best of health. They are designed to cover just the final expenses. Maybe you have seen Alex Trebek from Jeopardy and Sam Waterston from Law and Order both advertise these types of plans.
The point is, even if you are nearing retirement, don’t assume you can’t buy life insurance. If you have health issues, don’t assume you can’t buy life insurance. Also, don’t assume it isn’t affordable.
If you are concerned about the amount of life insurance you have, call your agent and discuss your options, because there are options out there to protect your family and your estate.
