Life insurance for retirement
Leave a legacy for the people you cherish most.
You worked hard to build your life
As you get set to enjoy your retirement years, you may be wondering how life insurance fits into the picture. Life insurance can add to your wealth, helping you supplement your retirement income.
What kind of future do you want to leave your family?
You have big retirement dreams — but should you keep your life insurance while retired? Consider:
- Could your surviving spouse continue to fulfill their dreams if you were no longer by their side?
- Are your children self-supporting?
- Is your mortgage paid off?
- Are your funeral expenses covered?
- Have you built enough savings to leave the legacy you want?
Fitting your retirement budget
Depending on your situation, life insurance may be one of the most important items in your retirement budget:
- Permanent life insurance has guaranteed and level premiums, which helps making and sticking to a budget easier
- Responsibility® plans offer coverage with more affordable premiums
- You can take advantage of built-in savings options to ensure the retirement you want
Here’s an example of how much coverage you might need
Debts: $25,000
Five years' income: $250,000
Funeral costs: $25,000
Total coverage needed: $300,000
For that amount, a life insurance policy could be as little as $17 per day*.
* Under a Whole Life Protector® policy, male, non-smoker, age 55. Terms and conditions apply.
Our recommendation for retirees
Lifetime protection with guaranteed premiums, savings options, and dividend payouts.
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Life insurance is underwritten by Co-operators Life Insurance Company. This material is provided for informational purposes only. Please refer to your policy for applicable coverage details, limitations, and exclusions. In Quebec, a licensed insurance advisor is a Financial Security Advisor or a Representative. Co-operators® is a registered trademark of The Co-operators Group Limited and is used with permission. Responsibility® and Whole Life Protector® are registered trademarks of Co-opeators Life Insurance Company.