Do I Need Life Insurance When I Am Retired? 
here is a good chance you will . Lets cover some of the what ifs : What if you need to maximize your pension distribution by taking it out during your lifetime only ? Life insurance will help you cover your spouse . What if you have any remaining debts , such as a second mortgage ? Or if you have any dependents , such as a child who still need some financial assistance ? Life insurance would protect them . What if you want a really strong guaranteed portion of your asset portfolio ? The guarantees in life insurance cash value contracts are very competitive . What if your net worth is high and you want to preserve your estate from federal and state taxation ? Life insurance would allow you to protect your assets and still pay the government . What if you have formed very strong ties with a charity , and would like to support it as a legacy ? Life insurance can turn a comparatively small premium into a very substantial gift for them . Its kind of surprising , isnt it , about how our need for life insurance can basically last our entire life ! 