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Reply to "Approaching Retirement at 65 - What kind of insurance do we need or not need?"
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[quote=Anonymous]Think about the purpose of insurance. It is to protect you against unlikely but potentially catastrophic expenses. So dying when you are in your 40s or 50s, for example. Dying when you are retired is neither unlikely nor financially catastrophic. So you don’t need it. Same for burial insurance (which is also inevitable, so it is really a form of saving for the poor, rather than insurance). So you don’t need it. Nursing home insurance is the one that comes closest to fitting the bill. There have been a number of threads on this - search for LTCI - and see if it’s right for you. Unfortunately it is extremely expensive, particularly at your age, and you may be better off self-insuring against this risk. [/quote]
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