There are many milestones that define the different stages of where we are in life, and retiring is one that many of us look forward to. Whether it's around the corner or you have just retired, this is one of the most significant changes you might experience. The shackles of work-life are off, and it's time to reap the fruits of your years of hard work.
Retirement gives you time to spend with your family and friends and relax. It presents the opportunity to take up a new hobby, travel, explore new/existing interests, and pursue your passions on your terms. For those who have planned well and saved enough, retirement can be a time of financial security and stability, freeing you from the stress of financial worries to enjoy this rewarding stage of life.
However, like in all stages of life, things can change very quickly, and there is always room for a backup plan. Life insurance can provide this safety net for many reasons:
Provide for loved ones!
When you retire, your superannuation is what you can use as regular income to cover your day-to-day expenses. Once you're not earning an income living comfortably should be a greater priority than saving money. If you have people who rely on you for financial support, then Life insurance is a great way to provide them with financial security in the event of your death, without you having to put money aside during retirement for when you are gone.
Help cover your final expenses
Life insurance can help cover final expenses such as funeral costs, medical bills, and estate settlement costs, which can be a significant burden for your loved ones to bear at what is already going to be a difficult time.
Leave an inheritance
Your family can use your Life insurance as an inheritance. Maybe you want to help your grandkids with school or university fees or leave them money towards buying their first car. This money could also help your loved ones pay off any outstanding loans, whether it’s a loan repayment, mortgage, car repayment, or any other loan.
Leave a charitable donation
If there’s a charity or cause you’re passionate about, your Life insurance can be used to support them. Just organise for your life insurance payout to be allocated to your charity of choice.
At Pinnacle Life, we know how important it is to look after your family no matter what milestone you are at in life; this is why we do our best to help people like you to protect your family at the best price. We regularly compare our prices and benefits to other providers, so we know that we offer some of the best value life insurance in NZ. You can easily access your very own quote in 30 seconds using our quick quote online tool.
