How does life insurance fit into a well-rounded retirement plan?
- If you are enrolled in MainePERS but not yet eligible to retire, your beneficiaries are not entitled to your full pension under most scenarios in the event of your death. Life insurance closes the gap during the years leading up to your fulfillment of eligibility requirements.
- If you are planning to retire, or recently retired, life insurance may help you maximize your net earnings while also providing for a surviving beneficiary.
I’m not a MainePERS member, how can you help me?
- Mark is happy to discuss your needs in your retirement planning and journey for financial security. If you are unable to retire today and replace your income through your retirement investments, life insurance may be a valuable tool to protect your loved ones from financial ruin in the event of your death.
- Call or email today to start a conversation about how you can close the gaps that create financial liabilities for you and your loved ones.
I would like to learn more about how my MainePERS pension works, how much do you charge?
- There is no fee for MainePERS education. Benefits estimates and insurance can be purchased to supplement your retirement/financial plan if it fits within your needs. The best interest of the client is always the first priority.
- A free consultation will include identifying goals and needs specific to your retirement plans. If insurance provides a valid purpose, getting connected with the right policy may be easier than you think.
How do I get an estimate of what my retirement benefit from MainePERS will be?
- If you are within 12 months of your retirement eligibility, you may request a benefits estimate from MainePERS at no cost to you.
- If you are not within 12 months of retirement eligibility, you may request a benefits estimate for a small fee. Having a benefits estimate with ample time to plan provides you a unique opportunity to fill any gaps in your retirement investments and to create realistic goals.
I want to reach a target MainePERS pension amount, how do I know how much my pension will be reduced for taking one of the 8 beneficiary options?
- Mark can provide you with target earnings specific to your personal situation to meet your goals. If you provide a target pension amount with personal and beneficiary information, earnings targets for your average final compensation (AFC) to meet your benefit goal can be identified and provided.