Life Insurance Quote
Will you save for your kids, enjoy your dotage selfishly, or simply need round the clock care?
Increasingly older people are splitting into two categories- “ski-ers” who are spending their kids’ inheritance on fun, and those less fortunate who still require significant monies for long term care. Which of these might be you (or your parents!) may well dictate the life insurance quote you plump for.
Looking for a life insurance quote? Here are two buzzwords that should get you thinking first! The first one is “ski-ing”. No, not whooshing down the piste: Ski-ing is the latest term financial advisers are using for a new phenomenon: “Spending the Kids Inheritance”! Yes, with the elderly lasting well beyond just five or so years into retirement, industries targeting the older consumer (from cruises to hobbies) have exploded in size. Plenty of retirees are opting to use their property as inheritance, but to use their savings, investments and annuities for fun fun fun! In that respect, either their children should consider taking out a life insurance quote on the parents’ life to protect themselves, or indeed the parent might wish to do so in order to partially protect their children.
A separate buzzword and trend is the exact opposite: “exheritance”. This is where long term healthcare eats well beyond a person’s savings, and the children (or rest of the family). Far from having an inheritance actually end up funding the last years of an adult relative’s life. In this case when considering a life insurance quote, look carefully at critical illness policies which can cover long term illnesses.
It’s amazing how both of these categories have expanded- and you should honestly work out your flow of family wealth: a life insurance quote may be an integral part of planning for such eventualities and getting the right product will be essential.
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