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Do You Need Life Insurance After You Retire?

Dear Savvy Senior,

Do I still need life insurance after I retire? I've been thinking about dropping my policy to escape the premiums. Is this a good idea?

Approaching Retirement

Dear Approaching,

It depends on your family and financial situation. While many retirees choose to stop paying their life insurance premiums when they no longer have young families to take care of, there are several reasons you may still want to keep your policy. Here are some different factors to help you decide.

Family situation: Life insurance is designed to help p...