Do I need any Life Insurance Post my Retirement?

life insurance

Please understand that the basic aim of life insurance is to cater for financial needs of your surviving dependents in case something happens to you as bread winner of the house.

In case you do not have anybody who is financially dependent on you and your earnings, you do not need ANY life insurance.

A situation could be that your wife is financially dependent on you now but after you, your family pension, income from other sources as also from other assets like mutual funds, will or can still comfortably take care of her, you don’t need to take any life insurance cover.

On the other hand, if you have your children and/or parents dependent on you and their lifestyle or future requirements would be in jeopardy if something happens to you, please take adequate life insurance cover for an appropriate duration.