Retirees often wonder - do I need life insurance?

Most young families don't have the financial assets to cover off things like monthly bills, mortgage payments, childcare, and the costs of caring for aging parents if one of the incomes in their household suddenly disappears due to a premature death.

But what about retirees? Their income in the traditional sense no longer needs to be protected since they are retired. What should they do with life insurance policies that they have been holding on to? Should they let them go? Should they keep them? Or should they be purchasing even more life insurance?

In today’s videos I am going to briefly outline different types of life insurance, why insurance is sometimes misused, good reasons for retirees to hold life insurance and some not so good reasons that people hold life insurance in retirement.