Most people I talk to is not aware of the life insurance that they have through a job is not going to transition over once they retire, or the company will offer it at regular rate which is extremely higher than before. At this time you either have to get a new life policy which your current age and health conditions will become a factor in the premium. This is why is crucial to get a policy started outside of your company that belongs to you and will not go up with retirement. Buying life insurance now provides a financial safety net for your dependents later if you’re not around to take care of them. After you’re gone, your family can use the proceeds to cover funeral costs, mortgage payments, college tuition and other expenses. Please let me know if this is helpful.