Life Event
Retiring
Retirement flips insurance priorities — life insurance often drops, long-term care rises, and Medicare integration becomes central.
Timing: 12–18 months before retirement date.
Coverage adjustments
Life
Most retirees can drop term coverage once mortgage is paid and assets cover spouse
Long-Term Care
Hybrid life/LTC if buying after 60; standalone LTC if buying in 50s
Auto
Pleasure-use + low-mileage discount — typical 15–25% savings
Health
Medicare A/B + Medigap or Advantage; HSA contributions stop
Priorities
- Drop or repurpose term life
- Add Medigap / Medicare Advantage
- Evaluate long-term care
- Re-rate auto for low mileage
Checklist
- Notify auto carrier of pleasure use
- Drop disability coverage
- Review estate-plan beneficiaries
- Calculate annual LTC inflation exposure
Risk alerts
- LTC underwriting becomes very hard after 70 or post-diagnosis
- Lapsing whole life surrenders accumulated cash value