With rates as low and competitive as they have ever been, it’s as close to a “buyers” market in life insurance as you’ll see. Still, with a goal to be as efficient as possible with financial resources, curbing all costs and expenses is a priority for most people, and buying life insurance is no different.
When preparing for your retirement, think about how much income you may need each year to fund the lifestyle you want. To help maintain your living standard, you may need to save enough money to supplement other sources of retirement income, such as a company pension and/or Social Security. It is also important to be aware of how your age factors into your retirement decisions.