Is it a good idea to purchase life insurance after the age 65? The answer is not an automatic yes or an automatic no. It depends on the financial choices you have made throughout your life and the financial goals you have left to fulfill.
The primary reason to have life insurance is to safeguard your family against a loss of income, especially if the loss is sudden or unexpected. The death of a wage earner can leave a family scrambling to make the house payment. If the survivors cannot afford the house, they may have to sell it. The loss of income may put a child’s college of choice out of financial reach. Younger children can be hit hard as well. Music lessons and sports activities may be too expensive to c View the rest of this article
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