At 55, your life insurance needs are typically shifting from income replacement toward estate planning and debt coverage. Most people at this age need coverage equal to any outstanding mortgage balance plus 5-10 years of your spouse's income gap — the difference between what they earn and what they need.
This answer is provided for general informational purposes only and does not constitute financial advice. Every family’s situation is different. For personalized guidance, schedule a free consultation with our team.
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