Many consumers have expressed concerns about the safety of entitlement programs. Some have expressed concerns about the future of social security. There are concerns about future funding for social security and the call by some politicians for means testing as a way to reduce social security payments.
Clients can address these concerns by creating a backup plan. One strategy that clients can employ is to utilize life insurance to address a shortfall in benefits if a future full means test excludes them from having the benefits they thought they would have. Life insurance can contribute to a family’s financial security regardless of what happens to entitlement programs in the future.
