It really depends on your own personal situation, and what your goals are for retirement, as well as, your savings and debt.
For instance, if you want to leave money for your grandchildren's college education but you don't have enough money saved up, you may want to have life insurance to help fund their college costs.
Also, many seniors in retirement have not saved enough money to pay for their funeral and burial costs, and a life insurance policy can help to provide the much needed funds when the time comes.
Other reasons a retiree may need life insurance may include to provide for a spouse's retirement, replace income, help family maintain their lifestyle, pay for estate taxes, or to leave money to a charity.
There are many reasons life insurance may be needed in retirement, but before purchasing your life insurance plan make sure you find out how long the rate and coverage is guaranteed, does full coverage start immediately, can your policy be canceled for any reason, and will the life insurance plan provide lifetime protection, as well as, will the life insurance accomplish the goals you have?
Here's how you can learn more about seniors life insurance and compare senior life insurance rates and plans online.