Is permanent life insurance necessary in retirement?

If you retire and don’t have issues paying bills or making ends meet you likely don’t need life insurance. If you retire with debt or have children or a spouse that is dependent on you, keeping life insurance is a good idea. Life insurance can also be maintained during retirement to help pay for estate taxes.

What are two reasons you might need to purchase permanent life insurance?

Here are 5 reasons why you should get permanent life insurance:

• Permanent, lifelong protection. …
• May allow flexible premiums and death benefit. …
• Cash value accumulates over time, in many cases tax-deferred. …
• May access your cash value for any purpose.