Life Insurance - approaching and into retirement

I would only get it if you want to provide income to loved ones after your death.

However, if you already have a nest egg not sure I’d get insurance.

My term insurance ends in 6 years and I won’t renew

Term life (which I am assuming is what you have) is for income replacement. In other words, it is to protect your loved ones from losing your income. But, if you aren't earning income than it doesn't make sense anymore. In that case, you are just gambling with the insurance company, with the odds in its favor.

Need it? Probably not unless spouse would have more expenses or less income in your absence. For example to replace your SS benefit or pension. However, it might also make sense to keep paying if you think it's likely to pay off. (Assuming level term) you paid that same premium when younger and less likely to die might be worth paying until term expires now that you're more likely to die. Also, consider widow will likely have higher tax burden given same income filing single so tax free death benefit might be useful.

You need a term policy if you have small kids and your income is the only thing keeping the bills paid. Other than that, it’s a want.

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Thanks!

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Here to serve.

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Not clear why non term insurance would matter. Please explain.

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Permanent contracts are guaranteed, and while not a need, one may want to continue owning. Leverage options can be employed to unlock asset value. If you're healthy, term is simply death benefit you'd most probably outlive and holds no value. You seem to be satisfied with your asset holdings so term coverage is an expense you may not want to continue.