Do You Still Need Life Insurance When You Retire?

The primary purpose of life insurance is to protect your family against a loss of income should you or your spouse pass away. Life insurance benefits are especially important for individuals who still have dependents or have accrued a significant amount of debt. So, if you don’t fit this description and have plenty of income to live on in retirement, is it really necessary for you to retain a policy? Of course, the answer will depend on your situation—your current debts and assets, your extant resources, and the overall framework of your financial plan.
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