“When you have told anyone you have left him a legacy, the only decent thing to do is die at once.” – Samuel Butler
Of course, this humorous quote is not the type of advice we would ever give our clients, but it does illustrate an increasingly important point. Seniors today are living longer – forcing them unexpectedly to tap into financial resources originally intended to pass on to younger generations. In fact, many seniors are struggling to maintain their financial dignity while they are living, just so they can have something to leave their families when they are gone.
As trusted financial advisors, we need to help our senior clients live their lives with the satisfaction of knowing there will be a legacy for their family. Clients often are unaware that life insurance can help them fulfill that dream. Life insurance not only guarantees a legacy will be left once they are gone, it also can allow them to live life to the fullest while they are still able to spend time with their loved ones.
The truth is, the term legacy simply no longer applies to a large sum of inheritance passed along from parents to children. Today’s senior clients want to share more than a financial legacy – they also want to share a life’s legacy of dreams, values and accomplishments. They want to leave a lasting memory for children, grandchildren and even great-grandchildren.