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Article: Do Seniors Need Life Insurance?; Family's Needs Should Be Weighed
- Article from:
- The Washington Post
- Article date:
- January 30, 1996
- Author:
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Washington financial planner William G. Brennan has a wealthy
client who insisted on buying a million-dollar life insurance policy
when he turned 50.
"There was no economic reason for it. It was just personal.
He wanted the policy to make sure that his family would have a large
amount of money when he died," related Brennan.
Buying life insurance as you approach 50 is just that -- a
personal choice depending on your own financial position and the
future needs of your family, according to a number of financial
planners in the area.
Jack Dolan, spokesman for the American Council of Life
Insurance, said that buying life insurance depends "on your stage in
life, not your age. If at ...