Don Hanifin discusses how life insurance fits into retirement

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-don-hanifin-founder-of-dh-retirement-solutions-discussing-how-life-insurance-fits-into-retirement/ 

In this episode of Influential Entrepreneurs, host Mike Saunders welcomes Don Hanifin, the founder of DH Retirement Solutions. They delve into the often-overlooked role of life insurance in retirement planning. Don shares his 30-year journey in the financial services industry, starting with long-term care at GE and focusing on safe, guaranteed financial solutions for his clients. He emphasizes the importance of ensuring a dignified aging process and the peace of mind that comes from securing one’s financial future.

Life insurance is often viewed solely as a financial safety net for loved ones after one’s death. However, its importance extends far beyond that, particularly in the context of retirement planning. In this discussion, we will explore how life insurance can play a crucial role in ensuring financial security for dependents and fulfilling long-term responsibilities.

One of the primary functions of life insurance is to provide financial protection for dependents. This is especially important for individuals who are in the early stages of their careers, for instance,

If a young professional has taken on a mortgage or has children with education costs, life insurance guarantees that these long-term responsibilities can be fulfilled. 

Life insurance is often perceived merely as a financial safety net for loved ones after one’s death. However, as discussed in a podcast episode featuring Don Hanifin, life insurance can play a significant and multifaceted role in retirement planning. Here’s an expanded look at how life insurance fits into a comprehensive retirement strategy.

TERM insurance is the product of choice in early years at it provides the most leverage, the lowest cost and pure death benefit coverage.  Select your term insurance from a company that offers strong conversion options as this will ensure your ability to convert some, or all of your term policy to a PERMANENT insurance policy when your income permits, without health underwriting. The most important part of permanent life insurance (Whole Life, Index Universal Life, etc…) is that over time these policies build tax-advantaged cash value that can be accessed while you’re still alive. If properly designed, a permanent life insurance policy can build a financial nest egg that may be accessed tax-free in retirement, quite possibly lasting your lifetime.

Don emphasizes the need for contingency plans, highlighting that life insurance is not just about assuming one will reach retirement age. It’s about preparing for the unexpected. This proactive approach allows individuals to ensure that their life missions—such as raising a family or achieving financial independence—are completed, even if they pass away prematurely.

Don shared: “I work more toward making sure that whatever you started in your life, you’re able to complete and you are able to age with a quality, with a sense of decency and dignity wherever you choose to do that”

About Don Hanifin

With 29 years of experience in the financial services industry, Don is the founder and owner of DH Retirement Solutions, Inc. Based in Massachusetts and Connecticut, Don specializes in helping individuals and families navigate retirement income planning with a focus on optimizing income and reducing taxes.

Don works with clients to create comprehensive strategies that integrate life insurance, annuities, Medicare, and longevity care allocation planning. By taking a proactive approach, Don helps clients secure their financial future, ensuring they enjoy a comfortable and worry-free retirement.

A trusted advisor, Don provides personalized solutions that align with each client’s unique goals and financial situation, all while helping them maximize their retirement savings and minimize tax liabilities.

Insurance Licensed in MA & CT | Retirement Income Planning Expert

Learn More: http://dhretirementsolutions.com/