How to Use Insurance as a Retirement Planning Tool

Most people wouldn’t consider using insurance as a retirement planning tool but, with strategy, insurance can help you reach your financial goals and maintain your lifestyle in retirement. To grasp the possibilities of insurance, you need to think beyond simply using it as a means of supporting family when you’re gone. Today’s insurance can offer ways to protect your retirement savings in the event you need long-term care. It can also provide a savings or investment option and be helpful when you have contributed the maximum to your retirement savings account for the year yet still have money to invest. Insurance can even provide an income in retirement. 

Alloy Wealth Management offers insurance services and works with clients to create a strategy designed to help them achieve their financial and retirement goals. In addition to traditional life insurance and long-term care insurance, we may recommend Fixed Indexed Innuities as a tax-advantaged investment that can provide a monthly income in retirement. Cash-value life insurance is a type of permanent insurance that has an investment feature and a death benefit payout. It’s a popular product because it earns interest, and the policy holder can withdraw from the policy, borrow against the policy, or sell the policy if they ever happen to need emergency cash. 

It can be a bit overwhelming to select insurance on your own, especially if you’re trying to do research online and purchase online. Save your time and energy and call Alloy Wealth at 800-689-3935 and we’ll teach you how to use insurance as a retirement planning tool. Because we are an independent firm, we have access to nearly every carrier and every kind of insurance. We look forward to hearing from you soon.