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Here is my take Arnie. I'm also 60+. Actually 69 last March. I too have everything paid for and have no debt,only living expenses.

Forty plus years ago I sold insurance and did keep it up until my kids were also grown and gone. Then I cashed all of it in. My estate isn't large enough to be taxed sooo..........

I've got enough $$$ and income to last me well past my demise unless of course we hit an apocalypse in the market and then we are all going to be in the same boat.

I figure that 5 grand or so will get me cremated and someone in my family should have enough $$$ (left by me) to rent a small boat and dump me in the gulf of Mexico. I always wanted to "gulf" anyway and was never good at it!

Mikeyz4
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