Horrors!...you don't need life insurance at this point in your life. It's a gigantic rip off and you don't need the 'tax advantage' of it. It will make your 'financial planner' a boatload of money. He likely gets about a 5% commission on all you invest..which is money you never get back. NO NO NO NOYOu are getting BAD BAD financial adviceThe above is excellent advice, and I beseech you to listen to it. Your pension will most likely cover most or all of your basic bills, and you can augment that with profits from your investments. If stocks scare you, invest the rest in a mix of several Vanguard (or other fine) index funds. Take a 30 day free trial to The Fool Rule Your Retirement Newsletter. You will learn a lot, and I suspect you will keep the subscription as the boards there are filled with good, smart people with excellent advice and similar life experience.Best,Vivienne
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