Retirement-Age Life Insurance: How Helpful Is It?

Speaking very generally, life insurance is usually taken out to make sure that dependents who are supported by your income will be protected in the event of your death. You may think that your need for life insurance goes away – or is at least significantly reduced – once your children are fully grown. For many retirees, though, life insurance still has a significant role to play. Consider these facts:

• A cash value policy can cover the unexpected expenses or losses from an investment-based retirement plan.
• A life insurance policy can provide extended support for dependents or spouses who cannot draw …read more