Life Insurance Questions After You Pass 50

QuestionsWhat is life insurance? It is a way to provide income to your dependents if you die prematurely. Do you need life insurance? It depends on your situation. Here are a few examples:

  • If it takes two incomes to pay the mortgage and you have kids at home, then you may need life insurance so that the family doesn't have to move should one of the breadwinners die.
  • If you are the primary caregiver to dependents, you may need life insurance to ensure the ability to have a paid caregiver.
  • If you are single, then you probably don't need life insurance.
  • If your spouse has their own income and you have no dependents, then you probably don't need life insurance.

The need for life insurance changes with your life circumstances. Part of planning for the future includes reviewing your insurance policies to ensure that they still meet your needs. The following resources will be helpful in your review.

Life Insurance Center from the Motley Fool has articles on what is it, how much do you need, kinds, and more.

What You Should Know About Buying Life Insurance (pdf) prepared by the American Council of Life Insurers and the Federal Consumer Information Center provides a primer on the types of life insurance and how to buy it.

Money 101: Life Insurance from Lesson 20 in the Money 101 series covers the top things to know, buying strategies, how much coverage, and how long a term.

These articles are from

©2010, FoolProof Financial Education Systems, Inc. All rights reserved.

Powered by FoolProof

This website is powered by FoolProof.

FoolProof is endorsed by the National Association of Consumer Advocates and the Consumer Federation of America.


Online Education

Educate yourself, your kids, your students or your employees.

Our online education programs will teach anyone the core financial literacy skills one needs in life.

All programs are turnkey, highly educational, online, interactive, video driven, self paced & fun!

Learn more »


Receive an overview of the latest posts in your inbox, every two weeks:

Enter your email address

Sample an archived e-alert.

Due to server maintenance this site will be unavailable from Saturday June 30th, at 11pm CDT until 7am the following morning. Got it.