Does A Retired Person Need Life Insurance? 
Yes . There is always a need whether you may realize it or not . The need for coverage can be anything from estate planning to transfer your estate to your children at the lowest possible cost , having just your burial and final expenses covered so your family members are not burdened with the expense , to paying off debts such as mortgages , cars , credit card debt , medical bills , etc. so your surviving spouse does n't have to be responsible for paying it off , to replacing lost retirement income for the living spouse -LRB- e.g. social security income , pensions , etc. -RRB- , to leaving a legacy to your family -LRB- e.g. as a gift to your kids -RRB- , and others . There 's many reasons to keep your coverage going . We often find people regret having not purchased coverage sooner or they let their old policies lapse because they needed it when they got to their 70 's and 80 's . If you 're unsure about what to do with your own specific situation , you can always consult with an experienced broker who can help you determine what is suitable for your needs . I hope the information is helpful - please feel free to contact me for help or if you have any other questions . Thanks very much . 