10 Things You Should Know About Life Insurance

There’s more to life insurance than just a big check after you check out.

A senior couple is strolling along the beach.
(Image credit: Getty Images)

The COVID-19 crisis was a stark reminder of how fragile life can be. As people worried about their mortality, it led to a surge in demand for life insurance. In 2021, life insurance sales increased by the largest amount since 1983.

Despite this growth, Chuck Czajka, CEO of Macro Money Concepts, a retirement planning firm in Stuart, Fla., thinks retirees still underutilize life insurance. “During seminars, I’ll ask how many people let their life insurance go because the kids have grown up? The hands go up.” After he explains the possible uses of life insurance as both a retirement and legacy planning tool, he finds attendees often regret this decision. 

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David Rodeck
Contributing Writer, Kiplinger's Retirement Report