LOSSES OF LIFE INSURANCE POLICY

TAX  LIABILITY

The situations where it is worthwhile for a retired person in their sixties to take out life insurance? The cost of life assurance is related to life expectancy so the older you are and the worse your health is, the greater the cost. If this is to protect your spouse the likelihood is that the premiums would not be affordable relative to the benefits. The most common use for life assurance after age 60 is to insure against an inheritance tax liability. For a couple the premiums are much cheaper because the plan does not pay out until second death.


SAVING OF SHORT 
TERM

so do we really need life insurance? We are fairly mobile and could stay with family & let the flat and we have some savings for the short term. From what I understand, life insurance pays off half the flat if partner should pass away. If this were to happen, we would probably sell the flat. Does it also include mortgage repayments in the case of illness or unemployment?There are many more losses.