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The Complete Cardinal Guide

TO PLANNING FOR AND LIVING IN

RETIREMENT

WE HELP YOU EMBRACE THE 7 WORRIES IN RETIREMENT

Life Insurance.

THE CARDINAL GUIDE TO:
Strategizing Life Insurance & Estate Planning 

￭ Calculate the amount of money your survivors need to receive quickly after you pass away. Consider purchasing life insurance. If you don’t want to pay ongoing premiums, consider single-premium whole life insurance.

￭ Update all of your beneficiary designations. Beneficiary designations trump the will and go straight to the beneficiary.

￭ You need at least four legal documents prepared by an attorney knowledgeable about elder law: (1) a will, (2) a health-care power of attorney, (3) a financial power of attorney, and (4) a HIPAA release.

￭ Federal estate taxes are no longer relevant for estates under $5.43 million, or $10.86 million for couples. The step up in basis at death for capital gains taxes is the more relevant issue for middle-class taxpayers.

￭ Want more information? A complimentary life insurance quote? Fill out the form below so we can give you some personalized options!

Related Blogs.

When to transition from term life insurance to whole life insurance in retirement

by | December 14, 2020 | Life Insurance and Legacy | 0 Comments

In retirement, you are transitioning to a new phase of life. Your need for life insurance will be transitioning as well as you go from the working and family rearing years to the empty nest years.  You need life insurance no matter what phase you are in, even if it is...
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The 4 Essential Estate Planning Documents

by | November 5, 2020 | Life Insurance and Legacy | 0 Comments

There are 4 documents that are essential in making sure what you want to happen happens when you age and when you pass.  These documents are  important to have done while you are alive and in a good mental state, so you can lay out exactly what you want and who you...
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The 5 Institutions Life Insurance Beneficiaries are Protected From

by | September 17, 2020 | Life Insurance and Legacy | 0 Comments

For many retirees that we help, one of the biggest concerns that comes up during estate planning is that the right people are going to get the right amount of money. Life insurance solves this.  Life insurance is a way to create an estate with the stroke of a pen. It...
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How do I make sure my spouse will have enough money after I pass?

by | July 30, 2020 | Assets, Life Insurance and Legacy | 0 Comments

You likely have someone dependent on your income to live. While this is usually a spouse, it can also be an adult child, grandchild, or anyone else who relies on you for support. When you die, they are going to need something to replace your income, even if you are...
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What is the minimum amount of life insurance I should have in retirement?

by | July 23, 2020 | Life Insurance and Legacy | 0 Comments

Once you reach retirement, it might seem that you don’t need life insurance anymore. Your children are supporting themselves, your house is paid off, you have savings - you’re all set.  While this is a great position to be in, every single person should consider a...
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When is the last time you updated your Beneficiary Designations?

by | April 23, 2020 | Life Insurance and Legacy | 0 Comments

After you die, do you know who you want to receive your money? Are you sure they are going to be the one who gets it?  We have seen many instances where, because beneficiary designations were not given the attention they deserved, the wrong person got the money. ...
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Living Benefits of Life Insurance

by | February 27, 2020 | Life Insurance and Legacy | 0 Comments

Life insurance has been around for centuries and most people understand the financial protection it can provide to your loved ones when you pass. More recently, life insurance companies have been adding benefits that can be used during the insured’s lifetime. We want...
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Life Insurance After Retirement

by | June 21, 2019 | Life Insurance and Legacy | 0 Comments

Once you retire, it can seem like the need for life insurance goes away. Your children are grown and have their own jobs, your spouse has Social Security coming in every month, you have low or no loans, and your bills are a little smaller than they were...
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Can I Get Life Insurance on my Parents?

by | April 18, 2018 | Life Insurance and Legacy | 0 Comments

When a parent dies, the last thing a child wants to think about is how they are going to pay the bills. For many, this is a sad reality. There are many things that adult children might have to pay for after a parent passes, including: Income for the...
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Does Suicide Void Life Insurance?

by | April 18, 2018 | Life Insurance and Legacy | 0 Comments

According to the American Council of Life Insurers, 99% of all life insurance claims are paid to beneficiaries. This leaves 1% that are not paid - are suicide cases apart of this? This raises the question, does a suicide void one's life insurance policy? While the...
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What does Contingent mean in Life Insurance?

by | April 18, 2018 | Life Insurance and Legacy | 0 Comments

When the whole point of life insurance is to give money  to your loved ones when they need it the most, you want to make absolutely sure the right people are getting the right amount. In order to do this, you must understand what primary and contingent...
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The 4 Documents You Need to Prepare Before Retirement

by | August 23, 2017 | Life Insurance and Legacy | 0 Comments

For many people, the thought of dying is easier to deal with than the thought of becoming incapacitated. What I find, is a lot of folks that are in their 60s and 70s, they don’t want to deal with the thought of incapacity. Denying the problem doesn’t make it go away....
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