Life Insurance for Retirement
Can life insurance supplement a pension?
Life insurance can supplement a pension by providing a death benefit for a surviving spouse if the pension does not include a survivor benefit, or by providing additional retirement income through cash value accumulation.
Key Points
- Life insurance supplements a pension by providing a death benefit for surviving spouse
- Pension survivor benefit: reduces monthly pension payment
- Life insurance: provides death benefit without reducing pension payment
- Cash value accumulation: provides additional retirement income
- An independent agent can help you evaluate life insurance as a pension supplement