Life Insurance for Retirees
What is the best life insurance for retirees?
Retirees may still need life insurance for several reasons: final expense coverage, estate planning, leaving a legacy, or supporting a surviving spouse. Final expense insurance is the most popular choice for retirees. Whole life insurance provides permanent coverage with cash value.
Key Points
- Final expense insurance: most popular for retirees — covers funeral costs
- Whole life insurance: permanent coverage with cash value growth
- Estate planning: life insurance can help pay estate taxes or equalize inheritance
- Leaving a legacy: life insurance can fund charitable giving
- An independent agent can help you find the best life insurance for retirees