Updated September 6, 2023, at 11:31 AM
“Will you still need me? Will you still feed me when I’m 64?”
These Beatles lyrics are good questions when illustrating life insurance or implementing policy changes in or near retirement. What will the need for cash value be to support the death benefit? What will your client have to feed the policy in premium payments? Will the client choose to reduce the benefit if needed to make the policy permanent without paying extra premiums?