Being middle-aged and retirement planning is getting harder and harder. Recently, I looked into getting additional term life insurance. As a middle aged entrepreneur, I want to make sure certain things were in place for my future and that of my family. In looking at additional term life insurance I found one thing I never thought of before. I found that the older I get, the more expensive term life insurance is. I didn’t know that. This made me think of a couple of things that potential middle aged entrepreneurs need to know. That is how to pay for additional life insurance when we’re getting older and insurance companies place us at a higher premium.
Our health changes as we get older. Blood pressure, diabetes, obesity and various other medical conditions put us at risk for which insurance companies then charge us higher premiums. Rude awakening for retirement planning for a middle aged entrepreneur. So what happens is that middle aged people like me, now have to buy increased insurance and find a way to pay for it. In this economy, $100-$200+ monthly insurance payments are not feasible for many households. Finding a way to pay for it is difficult, so many of the middle aged are taking on second jobs, working part-time to supplement their income.