Retirement planning isn’t just about how much you’ve saved; it’s about how predictably and efficiently those dollars support the people and causes you love. Life insurance can be a strategic tool in this phase of life. For many couples, the first challenge after a death is settling up with the IRS—especially when required minimum distributions, deferred taxes on IRAs/401(k)s, or a final return come due. A properly designed policy can create immediate, tax-efficient liquidity so a surviving spouse isn’t forced to sell investments at the wrong time or drain emergency cash just to pay taxes and final bills.
Life insurance can also give you permission to fully enjoy your savings while you’re alive—knowing a death benefit can replace what you spend for children or charities later. For widows or surviving spouses, certain strategies use life insurance during both lives to support future income after one Social Security benefit stops or a pension reduces. When designed with supplemental income options in mind (e.g., cash-value access through policy loans/withdrawals, where suitable and available), the policy can help soften the “widow’s income gap” and protect lifestyle.
Grandkids on the heart? Many retirees set up grand-child policies to lock in insurability early and establish a starter asset they can gift later—often with flexible options for college, a first home, or life milestones. And while no one loves talking about it, a modest final-expense plan can spare family from scrambling to cover funeral costs. Finally, life insurance can be integrated with a long-term care protection plan—either via riders or asset-based designs—to provide leverage for home care or facility costs, helping preserve the rest of your portfolio for income and legacy.
Ready to see what’s possible for your situation? Find 30 minutes on Mark’s calendar and we’ll map a simple, personalized plan—how to cover the IRS when one spouse passes, enjoy your savings with confidence, protect a widow’s income, bless the grandkids, handle final expenses, and coordinate long-term care—all in one coherent strategy.
Notes: Product availability, features, riders, tax treatment, and access to cash values vary by policy and state. Loans/withdrawals reduce cash value and death benefit and may trigger taxes if the policy lapses or is a MEC. Consult your tax professional.