We’re talking about life insurance after the kids have grown and left home. Do you need life insurance after the kids have flown the nest?

You are still alive and life is fun! We list down ten reasons why a life insurance is a great idea after the kids have left home.

1. To meet goals
   the social security benefits payments stop once the kids leave high school. This can provide for if your children are in college and/or not completely financially independent.



2. To support other dependents
   Disabled adult children, old parents, spouse; if you have any of these, a life insurance would continue providing financial support even if you’re no more.



3. In lieu of social security
   A research done by our experts show that widows between the age of 51-64 were in a worse condition than the married women of the same age. The biggest factor being- the widows’ husband never had a life insurance policy to save the day.



4. To offset reduced Social Security survivor’s benefits
   The consideration that comes first is that the surviving spouse must be at least 60 years of age before receiving Social Security survivor benefits and, even then, the benefits are allocated on a reduced basis. Full Social Security survivor benefits become available when the surviving spouse reaches age 65 or older, depending on how old the deceased spouse was. And yet, these benefits are just adequate hand-to-mouth feeding basis.



5. To offset other “lost” retirement savings
   A life insurance policy can help offset the effect of reduced retirement savings if you die early and don’t get the salary increases that might have increased your employer pension benefits or IRA contributions.



6. Meet your future hand in hand:
   Most couples are a part of the working family community who strive together to meet financial commitments (e.g., home mortgage, loans, leases, etc.) Life insurance taken by both of them can be useful in case the spouse dies, towards meeting those commitments.



7. To pay unprecedented expenses caused by an early demise
   Life insurance can cover costs arising from funeral and burial costs, final medical expenses, estate administration and transfer costs, and federal and state income and estate taxes, which can easily reach tens of thousands of dollars.

To create your “treasure chest” Wise men say “treasure chest” should be maintained by each household equivalent to about half a year’s income to meet unexpected accidents and expenses. Each house is vulnerable to upcoming financial difficulties without this “treasure chest”. Life insurance can solve this problem.