How Much Life Insurance Do Seniors Need After Retirement?
Often far less than you needed during your working years.
No obligation. No pressure. Just answers.
Quick Answer
For most retirees, the biggest remaining life insurance need is covering final expenses — typically $10,000 to $20,000 — rather than the large income-replacement coverage needed during working years.
For more detail, see our explanation of whole life vs. term life insurance for seniors.
During your working years, life insurance often needs to replace lost income, pay off a mortgage, or help raise children. Once you’re retired, the mortgage may be paid off, children are grown, and income replacement is less relevant — which is exactly why many retirees downsize from a large term policy to a smaller, permanent burial insurance policy.
A burial insurance policy is priced specifically for this smaller need, keeping the monthly premium affordable on a fixed retirement income while still making sure funeral costs are covered.
Ready to see your real options? Call (877) 486-3215 now to speak with a licensed agent and get a free, no-obligation final expense insurance quote.
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