Navigating Insurance in the "Sandwich Years": What Families Need to Review
- Peter C. Ciravolo
- Oct 6, 2024
- 2 min read
For many families in their late 40s to early 60s, life is full—and complicated.You may have:👨👩👧👦 Two kids (one in college, one recently launched)🏡 A primary home, vacation home, and rental properties🛥️ A boat☂️ Umbrella liability coverage💡 Term life insurance that might be expiring soon
You’ve built a great life—but have your insurance policies kept up?
Here’s What Families in This Stage Should Be Thinking About:
🏠 Primary and Vacation Home Coverage
Make sure both homes are insured for replacement cost, not just market value. If your vacation home is in a flood or wildfire zone, consider excess or specialty coverage.
🏘️ Rental Properties
If you own rentals, you need landlord policies that cover:
The structure
Loss of rental income
Landlord liability
📌 Pro tip: Require tenants to carry renters insurance. It protects them—and adds a layer of protection for you.
🛥️ Boat Insurance
Don’t rely on homeowners extensions. Separate boat insurance should include:
Liability
Physical damage
Towing
Uninsured boaters
☂️ Umbrella Insurance: Time for a Review?
Umbrella insurance protects your assets from major liability claims across home, auto, rentals, and more. If your net worth or risk exposure has grown, your coverage should too.
$1M might’ve worked before—but is it enough now?
💼 Life Insurance: Is Your Term Policy Running Out?
Many families bought 20- or 30-year term life policies when their kids were little. If those are expiring soon:
Do you still have a financial need for life insurance?
Would a permanent policy be useful for legacy planning, covering estate taxes, or providing liquidity?
Have your health or insurability changed?
This is a good time to evaluate whether it makes sense to convert, replace, or let the term policy lapse.
🧓 Long-Term Care Insurance: Think Ahead
Planning for long-term care is not just for your 70s. The best time to explore it is in your 50s or early 60s—while you’re healthy and insurable. Consider:
Traditional LTC policies
Hybrid life + LTC options
Setting aside assets in a designated care fund
🧒👩🎓 Don’t Forget the Kids
If your college student is still on your auto or health insurance, make sure:
Their location and vehicle use are properly disclosed
They have renters insurance if living off-campus
For young adult children:
Help them start their own coverage
Encourage them to get disability and term life early while rates are low
✅ Final Thought
You’ve reached a stage where protecting what you’ve built is just as important as building more. Coordinated insurance planning helps ensure your lifestyle, legacy, and loved ones are truly protected.
Want to walk through a full insurance audit for your family’s next chapter? Let’s talk.
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