Some people feel that when they get to be 50, 60, 70 and beyond, life insurance isn’t something they need. But when you have a life event — say your spouse passes away — and you lose a source of income, you might try to replace that money by tapping into other sources.

But that could create a ripple of new issues. Here are the questions you have to ask yourself before signing on the dotted line of your insurance policy, and what goals to keep in mind when you do make your decision.

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