Proper planning could help you ride out a few bad years on investment markets in the early phase of your retirement, where you aren’t forced to sell long-term assets.
I retired last year and have converted my super to a pension. I’m in a ‘Balanced’ option within mydrawing money out every month?
Depending on your comfort around risk, then have another 1-3 years worth of drawings in other capital secure options like term deposits or annuities. No, you don’t. Exactly as you’ve highlighted, life insurance is primarily about debts and dependents. If you’ve got neither, then the expense of this cover is just a drain on your retirement savings.
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