Retirement Life Insurance is a supplemental life insurance that is guaranteed Issue and paid-up at age 65 if purchased at age 55 or younger for up to $150,000. Retirement Life Insurance is an integral part of financial planning for retirement. If you are over 55, you can still purchase the retirement insurance for up to $50,000 guaranteed issue. It does not replace but complements your existing life coverage provided through you employer.
You will lose some or all your life insurance from your employer when you retire, but if you are enrolled in the Globe Retirement Life Insurance, it will go with you if you terminate employment or retire. It is a good idea to purchase supplemental coverage and secure level premiums now whole you are younger and healthier. If you wait until your existing coverage terminates, you will need to apply for new coverage later. Rates at that time could make life insurance prohibitive because of your age, or your health. You could also not qualify for life insurance for health reasons.