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Here's how to use life insurance as a retirement plan to supplement income, build tax-deferred cash value, pay for medical expenses and provide financial security.
Insurance options. While traditional long-term care insurance can be expensive, Carson suggested exploring combination products that blend life insurance or annuities with long-term care benefits.
Buy adequate insurance. The cost of health care seems to only go higher year after year, and we’re living longer and longer. ... New York Life estimates a cost of $365,000 and up in a 2023 ...
The cost of life insurance varies quite a bit, depending on the type of policy you choose, the amount of coverage needed, the length of coverage, and your health status.
If you have debt or are still earning income when you retire, it might be a good idea to hold on to your life insurance policy, which can also help with things such as estate taxes, burial costs ...
As of 2016, New York Life Insurance Company was the country's third-largest life insurance company. [4] A mutual insurance company, New York Life is owned by its policyholders and has no outside shareholders. [22] As a mutual, New York Life distributes a portion of its earnings to eligible policyholders as annual dividends.
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