Questions to Ask Your Retirement Planner About Life Insurance

Life insurance is one of the most versatile tools in retirement planning, but with so many options, riders, and policy structures available, it’s natural to feel uncertain about where to begin. The good news is you don’t have to navigate these decisions alone. Working with a retirement planner gives you the opportunity to align life insurance with your personal goals.

As you prepare for that conversation, here are some key questions to ask:

1. What type of life insurance is best for me?

Understanding the difference between term and permanent policies is crucial. Ask your planner which type fits your goals, whether it’s providing protection for a set period or building long-term value you can use in retirement.

2. How much coverage do I really need?

Your planner can help you evaluate your current financial obligations, such as a mortgage, debts, or future college expenses, as well as your long-term retirement goals. Together, you can determine the right amount of coverage to protect your family.

3. Can life insurance supplement my retirement income?

Some policies build cash value over time, which can be accessed later. Ask how this feature might work within your retirement plan and whether it’s a good fit for your needs.

4. How does life insurance fit with my estate plan?

Life insurance proceeds generally bypass probate, going directly to your beneficiaries. Ask your planner how this can be used to simplify your estate and ensure your legacy is carried out smoothly.

5. Are there options for long-term care coverage?

With healthcare needs rising, many policies now include riders for long-term care. Discuss whether this option could provide additional protection for your retirement years.

The Bottom Line

Asking the right questions helps ensure your life insurance is more than just a policy—it becomes a powerful part of your retirement strategy. The more you understand, the more confident you’ll feel about how your coverage protects your family, your income, and your future.

Talk with a retirement planner today to start the conversation and get answers to the questions that matter most about life insurance.