Life insurance is a contract between an insurance company and a policyholder in which the insurance company agrees to pay a sum of money to the policyholder’s beneficiaries upon the policyholder’s death. Life insurance can provide financial security for retirees and their loved ones, helping to cover end-of-life expenses, such as funeral costs and medical bills, and providing income replacement for surviving family members.
There are many different types of life insurance policies available, and the best type of policy for a retiree will depend on their individual needs and financial situation.
