What role does insurance play in my retirement financial planning?

When you start making your plans to retire in Denver, CO, you probably think of the most obvious sources of retirement income, such as savings and retirement accounts. Most people don’t realize how important insurance is to any financial planning.

At AFI Insurance, we can help you understand the ways insurance will help you with your own financial plans. While insurance serves a short-term purpose when helping you recover after a fire or other disaster, insurance can also help protect you in the long run to achieve the goals you have set yourself for your retirement.

Life Insurance

This is the kind of insurance most associated with financial planning, in that a sound life insurance policy can help you or your family even if one of you dies. You don’t want to leave your family in need, so it is important to get a policy payable on death. If your family is still young, you might need a sizeable enough policy to pay off a mortgage, put children through college, and pay off any debts you accumulated in your lifetime.

You will also need to consider if you have a special needs child who will need longer care or parents who still have needs. You don’t want to wait until it’s too late to try to provide help for them.

Other Kinds of Insurance

Even though they are not directly involved in financial planning, other kinds of insurance help keep you on track to maintaining your goals. If you crash your car in Denver, CO, you don’t want to have to pay for the damages out of your own pocket. If your home is burglarized, you want to know you’re protected.

If you would like to talk about your future and how insurance can help with your retirement, please call AFI Insurance.