Life Insurance is one of those things many people try to get around buying someday, but for various reasons just hasn’t done it yet.  In most cases, the best buy would be Level Term Life Insurance.  It’s fairly easy to get until around age 70, depending on your overall health situation.  Once you get into your 70s and beyond, however, it can be more difficult to find reasonably priced coverage.

In general, most people should have 10 to 12 times their annual income in Term Life Coverage.  However, you really shouldn’t need life insurance if you’re 70 or older.  If you’ve saved and invested wisely over the years, you can be self-insured.  You should have enough money in savings and investments to cover funeral expenses plus enough for a spouse to live on comfortably after you’re gone.