{"id":19233,"date":"2022-09-01T22:35:54","date_gmt":"2022-09-01T22:35:54","guid":{"rendered":"https:\/\/stollerwealth.com\/2022\/09\/life-insurance-after-60-is-it-necessary\/"},"modified":"2022-09-01T22:38:23","modified_gmt":"2022-09-01T22:38:23","slug":"life-insurance-after-60-is-it-necessary","status":"publish","type":"post","link":"https:\/\/stollerwealth.com\/2022\/09\/life-insurance-after-60-is-it-necessary\/","title":{"rendered":"Life Insurance after 60- is it necessary?"},"content":{"rendered":"<div>\n<style type=\"text\/css\">\n@-webkit-keyframes oryCellResizeableAnimate {<br \/>\n  0% {<br \/>\n    background-color: hsla(0,0%,100%,.26);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<\/p>\n<p>  50% {<br \/>\n    background-color: hsla(0,0%,100%,.12);<br \/>\n    top: 0;<br \/>\n    bottom: 0;<br \/>\n  }<\/p>\n<p>  to {<br \/>\n    background-color: hsla(0,0%,100%,.87);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<br \/>\n}<br \/>\n@keyframes oryCellResizeableAnimate {<br \/>\n  0% {<br \/>\n    background-color: hsla(0,0%,100%,.26);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<\/p>\n<p>  50% {<br \/>\n    background-color: hsla(0,0%,100%,.12);<br \/>\n    top: 0;<br \/>\n    bottom: 0;<br \/>\n  }<\/p>\n<p>  to {<br \/>\n    background-color: hsla(0,0%,100%,.87);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<br \/>\n}<br \/>\n<\/style>\n<style type=\"text\/css\"><\/style>\n<div class=\"juiced\">\n<div id=\"postToSend-535\">\n<div class=\"ory-row\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-row ory-cell-inner\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-cell-inner ory-cell-leaf\">\n<div class=\"ory-plugins-content-spacer ory-plugins-content-spacer-read-only\" style=\"border-bottom: none; position: relative; border: 1px solid rgba(0, 0, 0, 0.12); border-color: transparent;\">\n<div style=\"height: 20px;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ory-row ory-cell-inner\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-cell-inner ory-cell-leaf\">\n<div><img decoding=\"async\" class=\"ory-plugins-content-image lazyload\" style=\"width: 100%;\" data-src=\"https:\/\/www.appsforadvisors.com\/ufs\/mediaLibrary\/RzdLSfgEbfw2PkbJo\/lifeInsuranceAfter60.png\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><noscript><img decoding=\"async\" class=\"ory-plugins-content-image\" style=\"width: 100%;\" src=\"https:\/\/www.appsforadvisors.com\/ufs\/mediaLibrary\/RzdLSfgEbfw2PkbJo\/lifeInsuranceAfter60.png\" \/><\/noscript><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ory-row ory-cell-inner\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-cell-inner ory-cell-leaf\">\n<div>\n<p>You may have had life insurance for as long as you can remember. You wanted to make sure that your family would be taken care of and be able to pay their bills if anything happened to you.<\/p>\n<p>But now that you\u2019re older and your children are grown \u2013 and hopefully your mortgage is paid off \u2013 you may not feel you still need life insurance. This could be a valid assumption; however, there are some circumstances under which it may still make sense for you to have life insurance. They are:<\/p>\n<ul>\n<li>You still have substantial debt.<\/li>\n<li>You have dependent children or grandchildren.<\/li>\n<li>You want to leave a financial legacy.<\/li>\n<\/ul>\n<p><strong>You still have substantial debt<\/strong><\/p>\n<p>No one likes the thought of leaving their loved ones to pay their debts if they die. If, however, someone has co-signed a loan with you \u2013 for example, for a mortgage or a car \u2013 and you die, then they will be on the hook for the entire amount.<\/p>\n<p>If you have life insurance and name your co-signer as the beneficiary, this will help relieve any financial burden your death could cause them.<\/p>\n<p><strong>You have dependent children or grandchildren<\/strong><\/p>\n<p>If you have children who are still dependent on you because they have a mental or physical disability, life insurance can be an excellent way to ensure they will still have access to funds after you die. \u00a0Lifelong care can be expensive, and a life insurance benefit will go a long way to helping fund it.<\/p>\n<p>You may have grandchildren you are caring for or that you are not responsible for but want to leave money they can use towards higher<br \/>\neducation.\u00a0 A life insurance payout can be a great way to help a grandchild get a good start in life without having to go into debt.<\/p>\n<p><strong>You want to leave a financial legacy<\/strong><\/p>\n<p>You may not have dependent children or grandchildren but still want to leave them something when you die. Life insurance can be a great way to do this without cutting back on your spending during your lifetime.<\/p>\n<p>Life insurance can also help make sure that you have something to leave everyone in your will. If you have a family cottage, it can<br \/>\nbe complicated to leave it to more than one person or family. Life insurance gives you the option to leave one person or family the cottage and another person or family the cash equivalent.<\/p>\n<p><strong>We can help you!<\/strong><\/p>\n<p>If you\u2019re unsure whether or not it still makes sense to have life insurance after the age of 60, we\u2019d be happy to sit down with you and talk through your options. Give us a call or email us today!<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ory-row ory-cell-inner\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-cell-inner ory-cell-leaf\">\n<div class=\"ory-plugins-content-spacer ory-plugins-content-spacer-read-only\" style=\"border-bottom: none; position: relative; border: 1px solid rgba(0, 0, 0, 0.12); border-color: transparent;\">\n<div style=\"height: 20px;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>You may have had life insurance for as long as you can remember. You knew it was important to make sure that your family would be taken care of and be able to pay their bills if anything happened to you.<\/p>\n<p>But now that you\u2019re over 60, your children are grown, and your mortgage is paid off, you may feel you don\u2019t need life insurance anymore. However, there are some circumstances under which it may still make sense for you to have life insurance:<\/p>\n<p>\u2022\tYou still have substantial debt.<br \/>\n\u2022\tYou have dependent children or grandchildren.<br \/>\n\u2022\tYou want to be able to leave a financial legacy.<\/p>\n","protected":false},"author":4,"featured_media":19234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","inline_featured_image":false,"footnotes":""},"categories":[110,136,129],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Life Insurance after 60- is it necessary? - StollerWealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stollerwealth.com\/2022\/09\/life-insurance-after-60-is-it-necessary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life Insurance after 60- is it necessary? - StollerWealth\" \/>\n<meta property=\"og:description\" content=\"You may have had life insurance for as long as you can remember. You knew it was important to make sure that your family would be taken care of and be able to pay their bills if anything happened to you. But now that you\u2019re over 60, your children are grown, and your mortgage is paid off, you may feel you don\u2019t need life insurance anymore. 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