Planning and Preparing for Life’s Finish Line

Why Estate Planning and Senior Financial Protection Matter More Than Ever

At Level Coaching, we talk a lot about preparing for the next chapter—but what about the final one?

For many of us, thinking about the end of life isn’t easy. But preparing for it is one of the most loving and responsible things you can do for the people you care about. Whether you’re years away from retirement or well into your golden years, having your financial and legal house in order brings peace of mind, protects your legacy, and ensures your wishes are carried out.

Here’s how to plan ahead—and how Level Coaching can help.

1. Start with the Basics: Beneficiary Designations

A beneficiary designation is the person (or people) who will receive your financial assets after you pass. It’s the easiest and most commonly overlooked step in estate planning.

You should regularly review and update the beneficiary information on:

Life insurance policies
Retirement accounts (401(k), IRA)
Bank accounts and investment portfolios
Pension plans

Why it matters: These designations override your will. If you forget to update them after a life change—like a marriage, divorce, or birth of a child—your money could go to the wrong person.

Tip: Make reviewing beneficiaries part of your yearly financial check-in.

2. Protect Your Wishes with a Simple Will or Living Trust

A will ensures your belongings, finances, and even guardianship wishes (if you have dependents) are known and legally protected. Through Level Coaching, all members gain access to Simple Will creation tools—a fast and easy way to document your intentions.

For those with more assets, privacy concerns, or unique family dynamics, a Living Trust may be a better option. Trusts allow you to:

Avoid probate (saving time and money)
Appoint someone to manage your affairs if you become incapacitated
Distribute assets to heirs according to a schedule or specific conditions

Boosted Benefit: Level Coaching now offers discounted access to Living Trust setup, making it more affordable to plan at any stage of life.

3. Life Insurance: Options When You Feel “Uninsurable”

Life insurance becomes harder—and more expensive—to get with age. Many seniors or those with chronic health conditions believe they no longer qualify, or that it’s not worth the cost. But you still have options:

Guaranteed Issue Life Insurance: No medical exam required; approval is guaranteed. These policies usually offer smaller death benefits (like $5,000–$25,000) but can cover final expenses and help ease financial burdens on loved ones.
Simplified Issue Life Insurance: Requires a health questionnaire but no exam. Premiums are lower than guaranteed issue policies, and coverage amounts are higher.
Burial or Final Expense Insurance: Specifically designed to cover funeral and end-of-life costs. More affordable and accessible for older adults.

Recommendation: Work with a trusted advisor (like those partnered through Level Coaching) to find a policy that fits your age, health, and goals.

4. Saving Late in Life: It’s Not Too Late to Build a Cushion

If you’re a senior citizen with limited retirement savings—or none at all—it’s still possible to build some financial security:

High-Yield Savings Accounts or CDs: Safe and accessible ways to earn a little more interest while protecting your money.
Senior-Specific Savings Plans: Some credit unions and community banks offer programs designed for retirees with lower or fixed incomes.
Budget-Friendly Emergency Funds: Aim to build at least $500–$1,000 to cover urgent expenses and avoid predatory lending. Even $25/month makes a difference.
Downsize and Simplify: Sometimes financial peace comes from adjusting lifestyle, not just income.

Legacy Isn’t About Wealth—It’s About Intention

Estate planning and financial preparation are not just for the wealthy. They’re for anyone who wants their voice heard, their wishes honored, and their loved ones protected.

Whether you’re just starting to think about these topics or you’ve been putting them off for too long, now is the time to act. Through Level Coaching, you have access to the tools, templates, and trusted resources to make sure your final chapter is a meaningful one.

Let’s get it in writing. Let’s make it official. Let’s prepare—together.

Want to get started?
Log in to your Level Coaching portal and visit the Resources section to access the estate planning checklist. Or you can reach out to your coach to get your will and life insurance setup with our partners.

Not part of the Level Coaching community yet? Reach out to us today to get started! 888-359-7755 or care@level-coaching.com

Written by Nichole Olds,
July 2025