Liberty Mutual Recommends Holiday Gift Ideas for Seniors
Liberty Mutual, one of the largest and most well-recognized insurance companies has some advice for seniors this year: Give less risky financial gifts like a single payment whole life insurance policy. Seniors are also encouraged to name younger family members as their beneficiaries. “The Grandparent Economy,” a 2009 study by American Demographics founder Peter Francese, found that grandparents gave their grandchildren around $5.5 billion each year in stocks, bonds and mutual funds. Today however, these gifts may be a little high-risk for the younger generation.
Life Insurance Gifts
Liberty Mutual is recommending gifts such as the “Liberty Series Estate Maximizer,” a single payment whole life insurance policy that immediately provides a death benefit larger than the policy amount paid. The insurer also mentions that life insurance policies can give beneficiaries access to cash during times of illness, something that stocks and other financial gifts cannot offer.