Leaving a Legacy: Why Life Insurance Matters for Tracy Retirees and Grandparents

When spending time with your grandkids and planning for what comes after retirement, you may be considering the legacy you plan to leave. Life insurance can be more than a financial tool; it can be peace of mind and security for your loved ones. Review and invest in your life insurance policy with a local insurer.

What Types of Life Insurance Are Available?

The following are two common types of life insurance policies:

• Term life insurance is a policy that provides coverage for a set time period, such as 10, 20 or 30 years. If you pass away during this time, your beneficiaries can apply for the death benefit. Term life insurance premiums are typically lower than those of a whole life policy plan.
• Whole life insurance offers lifelong coverage with consistent premiums. Your beneficiaries can receive the death benefit upon your passing. This policy can also include a cash value component that grows over time and can be withdrawn or borrowed against according to the policy.

What Can a Death Benefit be Used For?

The death benefit that is paid out to chosen beneficiaries upon your passing can be used for virtually any reason, including the following:

• Funeral costs
• Outstanding debts or mortgages
• Education funds
• Living expenses
• Replacing lost income

Contact Us

Life insurance can be a great financial tool for grandparents to leave their loved ones the legacy they want. It can mean extra stability and peace of mind for your beneficiaries. The professionals at ISE Insurance Services in Tracy, CA can help you create a policy that aligns with your wishes and values. Contact us today for a personalized quote or more information.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.