Life insurance planning for retirement in Texas

We review existing policies, right-size coverage, and align term or permanent insurance with survivor income, legacy goals, and cash flow so your family is protected without overpaying.

Reevaluating Insurance Needs

Coverage that fits this stage of life

As retirement approaches, the purpose of life insurance often shifts from mortgage protection to supporting a spouse, funding legacy gifts, or covering final expenses. Wealth Solutions analyzes survivor income, Social Security changes, pension offsets, and cash needs so coverage matches today’s goals across Austin, The Woodlands, Houston, Dallas, San Antonio, and Corpus Christi. If legacy or tax efficiency is a priority, we coordinate with estate planning to align documents and beneficiaries.

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Active management vs. passive

Why we choose active oversight

Index funds have a place, but retirees in Texas often benefit from active decisions that balance income needs with risk. We don’t chase every market move; we make informed adjustments to manage drawdowns and capture opportunity. This hands-on approach is led by Richard Blair and reflected in our proprietary funds as well as individual securities where appropriate.

From paperwork to portfolio in one plan

How the rollover works

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Review your accounts

We inventory plans and balances, including any 401(k), 403(b), SIMPLE, or governmental 457 assets, plus employer stock considerations.

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Compare options

Keep funds in the old plan, roll to a new employer plan, or move to an IRA. We outline costs, creditor protections, and flexibility.

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Choose IRA and investments

If an IRA is best, we set up the account and design an allocation that fits your broader plan.

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Handle the paperwork

We coordinate a trustee-to-trustee transfer to avoid withholding and the 60-day rule.

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Reinvest and align

Once assets arrive, we implement the strategy and connect it to your household plan in your client portal.

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Policy Review

Understand what you own and whether it still works

We evaluate existing term and permanent policies, project premiums, and assess cash value performance. If a policy no longer fits, we may adjust coverage, reduce costs, or consider a 1035 exchange to a better structure, including options that add long-term care features when appropriate. For care-focused strategies, explore long-term care planning.

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Right-Sizing Coverage

Enough protection without overpaying

We calculate the amount needed to replace lost income for a spouse, settle debts, or fund specific gifts. If assets already cover these needs, we may recommend reducing or eliminating coverage. When coverage adds value, we design premiums that fit your retirement budget and integrate them into your cash flow plan.

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Pick the structure that meets your purpose

Types of Policies

Term life can bridge short windows of need. Whole life and universal life provide permanent coverage with cash value that can support estate liquidity or legacy. Survivorship life can be an efficient legacy tool for families. Hybrid life with long-term care benefits can address care costs while preserving an inheritance. We compare carriers and structures side by side so trade-offs are clear.

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Tax-Free Legacy

Turn premiums into impactful gifts

Life insurance proceeds typically pass income tax free to beneficiaries, which can make it a cost-effective way to leave an inheritance or fund charitable goals. We align ownership, beneficiary choices, and trust coordination where needed so benefits reach the right people at the right time. When giving to charity is part of the plan, see charitable giving for additional strategies.

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Give the right asset at the right time

Strategies for tax-smart giving

Gifting appreciated securities often beats cash since you avoid capital gains and still receive a deduction. We analyze lots with the highest gains, plan timing around your bracket, and align grants with your annual goals. For investment context, revisit investment management to see how gifting positions fits your portfolio.

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Frequently Asked Questions

Frequent Questions on Life Insurance

  • Do retirees still need life insurance?

    Sometimes yes for survivor income or legacy. We quantify the need and only recommend coverage if it adds real value.

  • Is coverage too expensive in my 60s?

    Costs rise with age, so we design efficient solutions or confirm that no new coverage is necessary.

  • Can I use life insurance for long-term care?

    Modern policies may include riders for care. We review your existing coverage and options to see if a hybrid design fits.