Wednesday, September 28, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found

Lost: Heart charm bracelet, necklace with arrow and heart, crown ring, and heart knot ring, all pieces are silver, lost at LV Light It Up ceremony. Please call Sheri, 210-833-8377.
Found: Cute, friendly male dog, Floresville courthouse area, he obviously belongs to someone as he has a collar but no tags. Call 210-355-2613 to claim him.
Found: Light brown large male puppy, approx. 1 year old, very lovable and sweet, no collar, near F.M. 537 and 427 off Hwy. 181. Call 830-393-9999 or 419-250-9099.
More Lost & Found ads ›

Help Wanted

Seeking individual to work in a local child-care center, paid holidays, etc., must be high school grad or GED. Apply in person at Cubs Country Childcare, 212 FM 1346 in La Vernia.
Sears Hometown Store in Floresville, Texas is hiring a full-time sales associates. Applicants must be self-motivated, must be able to lift over 50 pounds, with great customer service and sales experience. Management skills and bilingual is a plus. Qualified applicants may apply in person at 2301 10th, Floresville.  No calls please.
More Help Wanted ads ›

Featured Videos





Video Vault ›

South Texas Living


Is life insurance needed in retirement




E-Mail this Story to a Friend
Print this Story
Jim Miller
August 13, 2014 | 2,598 views | Post a comment

Dear Savvy Senior,

Is life insurance needed in retirement? I’m about to retire and have been thinking about dropping my policy to escape the premiums. Is this a good idea?

Over Insured

Dear Over,

While many retirees choose to stop paying their life insurance premiums when they no longer have young families to take care of, there are a few reasons you may still want to keep your policy. Here are some different points to consider that can help you determine if you still need life insurance in retirement.

Dependents: Life insurance is designed to help protect your spouse and children from poverty in the case of your untimely death. But if your children are grown and are on their own, and you have sufficient financial resources to cover you and your spouse’s retirement costs, then there is little need to continue to have life insurance.

But, if you had a child late in life or have a relative with special needs who is dependent on you for income, it makes sense to keep paying the premiums on your policy.

You also need to make sure your spouse’s retirement income will not take a significant hit when you die. Check out the conditions of your pension or annuity (if you have them) to see if they stop paying when you die, and factor in your lost Social Security income too. If you find that your spouse will lose a significant portion of income upon your death, you may want to keep the policy to help make up the difference.

Work: Will you need to take another job in retirement to earn income? Since life insurance helps replace lost income to your family when you die, you may want to keep your policy if your spouse or other family members are relying on that income. If, however, you have very little income from your retirement job, then there’s probably no need to continue with the policy.

Estate taxes: Life insurance can also be a handy estate-planning tool. If, for example, you own a business that you want to keep in the family and you don’t have enough liquid assets to take care of the estate taxes, you can sometimes use a life insurance policy to help your heirs pay off Uncle Sam when you die.

It’s a good idea to talk to a disinterested third party (not your insurance agent), like an estate planning expert or a fee-only financial planner to help you determine if your life insurance policy can help you with this.

Life Settlement Option

If you find that you don’t need your life insurance policy any longer, you may want to consider selling it in a “life settlement” transaction to a third party company for more than the cash surrender value would be, but less than its net death benefit. The best candidates are people over age 65 who own a policy with a face value of $250,000 or more.

Once you sell your policy, however, the life settlement company becomes the new owner, pays the future premiums and collects the death benefit when you die.

How much money you can expect to get with a life settlement will depend on your age, health and life expectancy, the type of insurance policy, the premium costs and the value of your policy. Most sellers generally get 12 to 25 percent of the death benefit.

If you’re interested in this option, get quotes from several brokers or life settlement providers. Also, find out what fees you’ll be required to pay. To locate credible providers or brokers, the Life Insurance Settlement Association provides a referral service at lisa.org.
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

South Texas Living Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. Better boxed lunch and after-school snack ideas (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Buttons, Bows, & Blessings Tea is Oct. 8 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Catch ‘Elvis’ in San Antonio (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Celebrate National Night Out Oct. 4 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Deer-proof your landscape with native plants (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Enjoy Fall Fest at St. Luke-Loire (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Enjoy German food, music at Oktoberfest (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Experience live pro wrestling in SA (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Ferdinand the Bull (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get your fill of turkey, tamales, and more in Panna Maria (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Gluten-free bread: great for lunches (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. H-E-B to roll out new ‘H-E-B Select Ingredients’ product line (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Health tips, advice for travellers (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Josiah Media Festival is Oct. 6-8 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Feria de las Flores is Oct. 15 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register now for Master Gardener 2017 evening classes (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register to walk and end NF (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Shop community rummage sale at St. Gerard’s (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. St. Ann’s Fall Fest is Oct. 2 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale Museum fund-raiser Oct. 1 (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. The Rock UMC plans events (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. We could all do better (September 28, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Apple Pie readers help Julia fill in the blanks (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cheap cell phone plans for seniors (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Come And Take It starts Sept. 30 (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Disc water pitcher (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. DRT chapter plans meeting, new member class (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get ready to grill at show barn’s barbecue cook-off (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Old Town Day seeks vendors (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Poth VFD to serve up barbecued chicken (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Run and shine at Neon Sizzle 5K (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Spots open for Community Yard Sale (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. St. Mary’s Fall Festival Sept. 25 (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Support FUMC youth at barbecue ‘fun’ raiser (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Teen MOPS plans upcoming meetings (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. The root of many evils (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Uncovering local legends: The grave in the middle of the road (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. URBAN-15 seeks dancers, drummers (September 21, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Chicago Cub yearbooks (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Enjoy Country Music Show Sept. 20 (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. How to prevent falls at home (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Krawietz family reunion (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia EMS plans Car Show (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Labatt Club donates to library, children (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Low voices and high hopes (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lutheran Church plans Sausage Dinner (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Medicaid covers mosquito repellent to fight Zika (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Metting family plans reunion (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Non-prescription drugs — the forgotten solution to rising health-care costs (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Relay For Life meeting is Sept. 15 (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Seguin Cowboy Gathering is Sept. 17 (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Smith Gas celebrates 88 years in business (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. The life of Doris Billimek Moczygemba (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Trail ride donations surpass $1M (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Visit Remembering Our Fallen exhibit in Seguin (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Who will take care of you? (September 14, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. A life shaped by hard work and hunting (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. After-Dinner Chocolates (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cajun music Sept. 10 (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate hearing aids, glasses, equipment (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Earn a certification in native landscaping (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Enjoy EquestFest 2016 (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Getting Engaged? How to spend wisely (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mystery box (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Nominate a nonprofit for Literacy Award (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Old medicine chest dates back to 1821 (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Professional bull riding returns to Fredericksburg (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register to run for tacos Oct. 1 (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Road Runners plan September outings (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Still time to buy tickets for Wild Game Dinner (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Take a tour of SS museum Sept. 17 (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Take the H-E-B Slim Down challenge (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Vote for top flick at Manhattan Short Film Festival (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Welcome to The Greenline, a 43-acre linear park (September 7, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ‘Cupping’ long before Phelps did it (September 7, 2016)
WCN Photo Contest HHF
WWII Clippings HHF
Coupon Q&A HHF-right
coupon home-rght
Heavenly Touch homeAllstate & McBride RealtyTriple R DC ExpertsVoncille Bielefeld homeFriesenhahn Custom Welding

  Copyright © 2007-2016 Wilson County News. All rights reserved. Web development by Drewa Designs.