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   Why should you consider life insurance as a senior?

   • Here are some key benefits and reasons for why you should consider life insurance as a senior: Life insurance can help cover funeral costs, medical bills, outstanding debts, and other final expenses that may not be covered by other assets. This can help relieve the financial burden on your surviving family members.

   Life Insurance for Seniors | Sun Life Canada

   www.sunlife.ca/en/insurance/life/life-insurance-for-seniors/

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   Do seniors need term life insurance?

   • Seniors and retirees may still need life insurance coverage. Term life insurance can be a great fit for seniors because of its flexible term lengths. Term life insurance is often more affordable than other life insurance, ideal for those on a fixed income. What’s in this article? Do retirees and seniors really need term life insurance?

   Term life insurance for retirees and seniors - Canada Life

   www.canadalife.com/insurance/life-insurance/term-life-insurance/term-life-insurance-for-retirees-and-seniors.html

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   Is life insurance a good option for a retiree?

   • Term life insurance is often unsuitable for retirees, but permanent life insurance – where the benefit is paid to beneficiaries on death – can often be a good addition to a financial plan, says Daryl Diamond, an adviser with Diamond Retirement Planning in Winnipeg.

   The pros and cons of buying life insurance when you’re older, which

   www.theglobeandmail.com/investing/article-the-pros-and-cons-of-buying-life-insurance-when-youre-older-which/

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   Should you keep life insurance in retirement?

   • Retirees must balance life insurance benefits against the ongoing costs, especially if they lose their job-based coverage. If you retire with debt or still earn some income for your family, keeping life insurance in retirement is a good idea. Life insurance in retirement can also help you leave an inheritance and pay estate taxes.

   Do You Need Life Insurance in Retirement? - Investopedia

   www.investopedia.com/articles/personal-finance/010716/do-you-need-life-insurance-after-you-retire.asp

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   Why is financial planning important for seniors?

   • Financial planning can become increasingly important in your senior years. A critical part of this planning may include securing a suitable life insurance policy. Life insurance can offer financial security for your loved ones after you die. At Sun Life, we understand the unique life insurance needs of seniors.

   Life Insurance for Seniors | Sun Life Canada

   www.sunlife.ca/en/insurance/life/life-insurance-for-seniors/

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   Should you buy life insurance if you're retired?

   • Life insurance in retirement can mitigate taxes at death, according to Mr. Diamond. The tax-free death benefit can serve as a gift for beneficiaries or cover the taxes on assets in the estate. Permanent coverage is underutilized among nearly retired or retired individuals, says Mr. Dewdney.

   The pros and cons of buying life insurance in retirement

   www.theglobeandmail.com/life/article-the-pros-and-cons-of-buying-life-insurance-in-retirement/

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2. www.theglobeandmail.com › investing › article-theThe pros and cons of buying life insurance when you’re older ...

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   Feb 17, 2022 · Term life insurance is often unsuitable for retirees, but permanent life insurance – where the benefit is paid to beneficiaries on death – can often be a good addition to a financial plan...

3. www.sunlife.ca › en › tools-and-resourcesDo you need life insurance when you’re retired?

   www.sunlife.ca › en › tools-and-resources

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   Sep 30, 2022 · Do retired people need to keep their life insurance, or even buy more? Find out why the answer could be “yes.” When you retire, your income usually decreases, since you’re no longer working.

   • Author: Anne Levy-Ward

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5. www.investopedia.com › articles › personal-financeDo You Need Life Insurance in Retirement? - Investopedia

   www.investopedia.com › articles › personal-finance

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   Aug 16, 2024 · You could need life insurance in retirement to cover final expenses, pay off your final debts and estate taxes, fund a charitable contribution, or leave an inheritance.

6. www.canadalife.com › insurance › life-insuranceTerm life insurance for retirees and seniors - Canada Life

   www.canadalife.com › insurance › life-insurance

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   May 17, 2024 · Seniors and retirees may still need life insurance coverage. Term life insurance can be a great fit for seniors because of its flexible term lengths. Term life insurance is often more affordable than other life insurance, ideal for those on a fixed income.

7. www.theglobeandmail.com › life › article-the-prosThe pros and cons of buying life insurance in retirement

   www.theglobeandmail.com › life › article-the-pros

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   Feb 15, 2022 · “There are really only two reasons to have life insurance: One is to create an estate, and the second is to conserve the estate you’ve created,” says Mr. Diamond, a certified financial planner...

8. www.fool.com › do-retirees-need-life-insuranceDo Retirees Need Life Insurance? - The Motley Fool

   www.fool.com › do-retirees-need-life-insurance

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   Apr 6, 2022 · KEY POINTS. Life insurance can help replace your income if you pass away. If you're retired and no longer work, it could still pay to have a policy -- in some situations. The quick answer?...

9. www.sunlife.ca › life › life-insurance-for-seniorsLife Insurance for Seniors | Sun Life Canada

   www.sunlife.ca › life › life-insurance-for-seniors

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   Sep 10, 2024 · Here are some key benefits and reasons for why you should consider life insurance as a senior: Provide funds for final expenses. Life insurance can help cover funeral costs, medical bills, outstanding debts, and other final expenses that may not be covered by other assets. This can help relieve the financial burden on your surviving family members.