First,
whether you need life insurance at any given point in time is based on you
individual situation, future goals, and needs.
For most people, life insurance may be needed after they retire, since life insurance creates cash at death.
Some uses for life
insurance after your retirement are to help pay for your burial, funeral, and other related final expenses, pay taxes upon your death, and other
business estate or legacy planning purposes.
In
addition, cash value (permanent) life insurance policies can sometimes be used to
supplement your retirement income.
Usually, a person may not purchase all the life insurance he or she will ever need at just one moment in their life. Having the proper life insurance plan is an ongoing process that changes as your responsibilities and life insurance needs change. That's why it's a good idea to have a financial review of your life insurance needs every few years, or upon a major life event, such as, starting a family, buying a new home, or preparing for your retirement.
Learn more about life insurance for retirement.
