Some people may wonder whether life insurance is necessary for seniors since their family home is likely paid off and their children are likely no longer financially dependent on them.
However, some seniors may still have mortgages or other debt. They may also worry about the financial security of their spouses and/or dependents.
Life insurance goes up in price as you age. However, it might still be possible to get affordable coverage. Here’s what you need to know about how (and whether) to buy life insurance in your golden years.