John Denning: Life Insurance When You Retire?

Raymond Caucci, Life Happens

Once you hit 65 and retire, you don’t need life insurance, right? Not so fast!

The traditional thinking about life insurance is that you only need it when you have an income to protect, when you have a mortgage or when you have kids to support.

And while it’s true that having life insurance after 65 isn’t right for everyone, there are some good reasons you might want to consider it.

1. Supplement your retirement income. If you have an existing permanent life insurance policy, for example, you may be able to tap into accumulated cash value as a form of retirement income. You can incorporate the funds inside your permanent life insurance policy to complement other forms of retirement income such as Social Security, 401(k) plans and IRAs.

Drawing on the cash value of a permanent life insurance policy enables people to use other resources to guarantee lifetime income.

There also comes a point when people become concerned about outliving their retirement savings. Drawing on the cash value of a permanent life insurance policy enables people to use other resources to guarantee lifetime income, such as a longevity annuity or a guaranteed living benefit.

2. Transfer wealth. Life insurance can be an effective vehicle for transferring wealth to your heirs while avoiding inheritance taxes. While the federal exemption for estate taxes have been raised to $5.43 million for 2015, there are still state inheritance taxes to consider. There are several states where you wouldn’t want to be caught dead, from an estate-planning perspective.

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Nest 725 Officer retires


After 43 years of holding various positions as an Officer in the PFA, Marian E. Hansen of Nest 725 Milwaukee, Wis. retired on Dec. 31, 2012. Throughout her 43 years, starting in September of 1969, Marian made lifelong friends, traveled to many states and even visited Poland four times to attend school and to perform at various festivals.

While serving as Instructress, Marian connected with many adults and children, teaching them Polish Folk dances amongst a variety of other performances. There isn’t much room left in Nest 725’s canteen with all those trophies and plaques won through the years!

Taking away a wealth of education from the PFA physical fitness program, Marian wishes to thank Instructors, Mr. Pett, Lottie Fik and Marian Wesolowski.

Marian directed many National Meet grand finales under Marian Wesolowski. One performance made the Sunday newspaper’s front page in color at the National Meet in South Bend, Ind. That finale in Polish costumes with 10 May Poles was quite a display!

At another of the National Meets, Marian’s boys and girls dressed in white, created a full display of the Polish eagle that covered almost a whole gym floor, while the adults dressed in red and white costumes, formed the Polish flag. That performance received a five-minute, hand-clapping, standing ovation at one of the PFA National Meet programs.

Positions held throughout Marian’s career are as follows: Nest Instructress – 24 years; Nest President – 8 years; Financial Secretary – 15 years; District II Instructress – 20+ years; National Polish Folk Dance Director – 8 years; Polish Fest Milwaukee Representative – 31 years; Cultural Chariperson – 25 years; Polish Folk Dancers of America Representative – 30 years; Canada PFA Drum and Baton Corp. – 5 years.

During her time in the above positions, Marian won many top three parade awards, as well as a second place state completion corp.
Marian participated in 11 National Meets, double that number District Meets and Tri Meets, and worked at National and District camps. She attended 10 National Volleyball Tournaments and participated in many of Chicago’s May Day parades. She also directed several television programs, promoting the Falcons.

To her many friends, her family and to all Falcon Members who helped her along the way, Marian says, “Thank you! Thank you!”

As of April 23, Marian has begun work as a Producer and Director for public cable, MATA Time Warner Cable channels 96 and 14. Her first show aired in September and will continue with shows in October and December.