At Havend, we strongly advocate using low-cost term insurance to cover your income protection needs during your earning years. Term insurance provides life insurance coverage (death benefit) ensuring your dependents are well provided for until they become financially independent, or you reach retirement age. For protection against critical illness or occupational disability, the coverage should last until retirement. So, what happens if you outlive your term insurance policy? Firstly, congratulations! You have made it this far without having to claim on your insurance. During the term of your policy, you should have been saving and investing towards your retirement. By this stage, you should have accumulated sufficient funds to enjoy your retirement without the need for income protection, having achieved financial independence. At Retirement, You Will Still Need: – A Fully Paid-off Home: This ensures that your retirement income is free for spending, not tied to mortgage payments, keeping you debt-free....