Eschels Financial Group The Diverse Beneifts of Life Insurance

Outliving assets is a real threat as people are living longer. According to data compiled by the Society of Actuaries, a man reaching age 65 today has a 50% chance of living until age 86. A woman turning age 65 today, has a 50% chance of living until the age of 88. And those are just for those in average health. About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95. Not knowing exactly how long they will live can make planning tricky for your clients. With an IUL policy, if your client lives longer than anticipated, he or she can use the cash value to help supplement retirement income. Additionally, if the insured dies first, the spouse can use the death benefit for income. Use this new Longevity – The Great Unknown brochure to help explain longevity risk to your client.

One surprising asset can help your clients address three risks they’re likely to face in retirement—mortality, longevity, and taxes. Read more.  

Filling for Social Security is a big decision, and your clients should consider which strategy is right for them. In addition, there are many products to consider that may enhance their retirement income plans. To help your clients develop filing strategies and provide client-ready resources click here.

While the Fed held steady on interest rates in May, a rate hike in June looks highly likely. The May FOMC statement did not signal any shift in views on the economy. By not referring to the slower GDP growth in the first quarter or potential risks from trade policy, the committee is emphasizing that there are more signs of strength than weakness in the economy. Read more in this week’s report.