Whether you need life insurance after 60 depends entirely on your current and future financial situations. If you're 60 or close to it and don't have a mortgage or other outstanding debt or dependents that rely on your income for any reason, you might not need life insurance. However, if you'll need to leave behind financial assistance to help pay for your final expenses like a funeral, or otherwise assist a spouse or dependents after you pass, then you may want to get life insurance after all.