By TIM PARKER, last updated on June 14, 2023. EBONY HOWARD reviewed the article and PETE RATHBURN verified the facts.
If you’re about to enter retirement or are already there, you might be wondering if life insurance is still a good idea.
If you lost your employer-provided life insurance and need to decide whether to purchase a new policy for yourself, this question is more pressing.
In order to leave an inheritance, pay off debts and estate taxes, and cover final expenses, you may need life insurance in retirement.
However, if you have already achieved these objectives, you probably no longer require life insurance.
Obviously, there is no one-size-fits-all solution. However, in order to decide what is best for you, we will assist you in considering the various factors that influence your circumstance.
KEY Focal points
Disaster protection pays out a demise advantage to your main beneficiaries when you die, in return for a continuous premium.
Life insurance benefits must be balanced against ongoing costs for retirees, especially if they lose their job coverage.
