Actually, many people still have a need for life insurance when they reach age 55.
At fifty-five many people may have a spouse, children who still live at home or are away at college, and 55 year olds may have a mortgage, or other financial responsibilities; as well as, those who rely on them for financial support.
In addition, you may not have saved enough money to pay for your final expenses, including the cost of your funeral burial, and other end of life expenses.
So, you'll want to consider - Does anyone rely on you for financial support?
Learn more about life insurance for people age 55 and over.