Life Events Timeline

Helping you plan from protection, through accumulation, to legacy

To Buy or Not to Buy . . . When Do You Need Life Insurance? Image shows hands protecting family and house.

The Stages

As you age, you will enter a variety of different stages. These stages flow from building your career, family, home, and lifestyle, where a greater amount of protection may be needed; to accumulation, where you begin amassing a variety of assets which will need protection from risk; to conservation, where you will want to preserve what you have built as you ready yourself for retirement; and finally to legacy where you will leave your mark with your family and your community. At each stage, your risk and insurance needs will change.

Life Events Timeline and Insurance

This visual life events timeline will help you determine how well protected you are as you enter each new stage of your life. Below the graphic are each of the stages broken down with the types of protection you may wish to consider.

 

Protection

Age 24-35

During this stage you need to consider:

  • Health insurance
  • Auto insurance
  • Homeowners insurance
  • Life insurance
    • Term
    • Permanent (Retirement
  • Disability insurance
  • Wills
  • Trusts

 

Protection & Accumulation

Age 35-55

During this stage you need to consider:

  • Supplemental life insurance
    • Term
    • Permanent (Retirement income)
  • Roth IRA
  • 529 Plans
  • 401(k) funding
  • Stocks, bonds, mutual funds, and annuities
  • Real estate

 

Protection & Conservation

Age 55-75

During this stage you need to consider:

  • Annuities
  • Long-term care
  • 401(k) rollovers
  • Pension maximizing
  • Social security planning
  • RMDs/SPIA payments
  • College funding/Life insurance for grandkids

 

Conservation & Legacy

Age 75-85+

During this stage you need to consider:

  • Wealth transfer
  • Gifting
  • Survivorship UL estate planning
  • Charitable planning
  • Final expenses
  • Burial policy

 

 

Unsure how much insurance you may need? We’ll be happy to help you figure it out.

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