What's New

As retirement approaches, many people think about canceling life insurance once major obligations like mortgages and child-rearing are behind them. However, life insurance can still play a valuable role in a retirement and legacy strategy.

Legacy and Inheritance Planning

Life insurance offers a tax-free way to leave money to loved ones and can help create an equitable inheritance, especially when a family business or uneven assets are involved. Life insurance may also be used for charitable giving by naming a nonprofit as a beneficiary.

Living Benefits and Long-Term Care

Some permanent policies include living benefits, allowing access to part of the death benefit if you face a chronic illness or need long-term care.

Covering Final Expenses

Life insurance can help cover the burden of final expenses, such as funeral costs, medical bills, or remaining debts, easing the financial burden on family members during an already-difficult time.

Keeping Coverage Into Retirement

While keeping coverage in retirement means ongoing premiums, replacing a policy later can be costly or unavailable due to age or health. For many people, keeping a life insurance plan active into their retirement years is a sound financial decision, and we are here to help you assess how life insurance fits into your overall retirement strategy.

Major changes have come to the ACA Marketplace, and full details can be found at CMS.gov. The most significant changes are in the subsidies and tax credits that are available for lower-income households, and eligibility and enrollment rules.

Subsidies and Tax Credits

Enhanced ACA premium tax credits expired at the end of 2025, meaning subsidy rules have reverted to pre-2021 standards. This will result in smaller tax credits and higher monthly premiums for many enrollees. This change will generally eliminate subsidy eligibility for people with incomes above 400% of the federal poverty level, and also reduce assistance for those low-income families who remain eligible. You can review insurance costs and subsidies at healthcare.gov.

Eligibility and Enrollment Updates

Eligibility and enrollment rules will be tighter starting in 2026. Marketplaces will require more income verification, update how eligibility is reviewed over time, and add pre-enrollment checks for some Special Enrollment Periods. The year-round Special Enrollment Period will end for people with projected household incomes at or below 150% of the federal poverty level. In addition, individuals with Deferred Action for Childhood Arrivals (DACA) status will no longer be considered “lawfully present” for purposes of enrolling in ACA Marketplace coverage or Basic Health Program coverage in states that offer it.