1. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    You need life insurance in retirement if your beneficiaries have financial exposure in the event of your demise. In addition, life insurance can make a difference in the lives of your children, grandchildren and charities who depend on you. 
    Answered on June 5, 2013
  2. 11773 POINTS
    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Do you need life insurance in retirement?   The answer is an individual one. For me personally, I do. Why? because at some point I am going to die and somebody is going to have to take care of what I leave behind. I personally can't leave those people having to figure out how to pay for my service with which thing to liquidate in what ever market at the time. I don't want them to lose salary in dealing with my death. If they need time to grieve, I don't want them to do so at a loss. Just a few reasons I choose to carry life insurance till the day I die.
    Answered on June 5, 2013
  3. 5082 POINTS
    J Paul Wilson CFP, CHFCPRO
    Certified Financial Planner, JPW Insurance Retirement Investments, Halifax, Nova Scotia, Canada
    In Canada when you "retire", whether you need life insurance depends on your objectives.
    Life Insurance creates cash at death and is arguably to most effective way to do so. Why would you want a tax free death benefit? There are often additional benefits including tax preferred growth. However, if tax-free cash to create or conserve your legacy is desired, you need life insurance.
    If you have further questions or you can contact me through this web site or JPW.ca
    Answered on May 3, 2015
  4. 7479 POINTS
    Steve KobrinPRO
    President, The Firm of Steven H. Kobrin, LUTCF, 6-05 Saddle River Rd #103, Fair Lawn, NJ 07410
    here is a good chance you will. Let’s cover some of the “what if’s:”

    What if you need to maximize your pension distribution by taking it out during your lifetime only? Life insurance will help you cover your spouse.

    What if you have any remaining debts, such as a second mortgage?
    Or if you have any dependents, such as a child who still need some financial assistance? Life insurance would protect them.

    What if you want a really strong guaranteed portion of your asset portfolio? The guarantees in life insurance cash value contracts are very competitive.

    What if your net worth is high and you want to preserve your estate from federal and state taxation? Life insurance would allow you to protect your assets and still pay the government.

    What if you have formed very strong ties with a charity, and would like to support it as a legacy? Life insurance can turn a comparatively small premium into a very substantial gift for them.

    It’s kind of surprising, isn’t it, about how our need for life insurance can basically last our entire life!
    Answered on June 9, 2015
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