You are retired and have built a significant estate valued well over the $5.43 million federal tax-free limit. You have no significant financial responsibilities and live very comfortably on the cash flow from your portfolio. At this point in your financial planning, which of the following have become less important and should be considered for cancellation or reduction?

Question

Quizplus · Accepted Answer

Term life insurance becomes less important in this scenario because its primary purpose is to provide for dependents or cover financial responsibilities in the event of the policyholder's death, which is not a concern in this case.

You Are Retired and Have Built a Significant Estate Valued