--- title: The Stages of Life Insurance Part III description: As you get older, it’s important to re-evaluate your life insurance needs. Life insurance should be a part of your retirement and estate plans. image: https://blog.empirelife.ca/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/Retired-Teaser-EN.png --- [![Empire Life logo](https://blog.empirelife.ca/hs-fs/hub/322854/file-368300927.jpg?width=189&name=file-368300927.jpg "Empire Life logo")](https://blog.fastandfull.ca) # INSURING WITH CARE™ BLOG [Français](https://blog.fastandfull.ca/fr) ## [The Stages of Life Insurance Part III](https://blog.empirelife.ca/old/the-stages-of-life-insurance-part-iii-1) Posted by [Empire Life](https://blog.empirelife.ca/old/author/empire-life) Mar 16, 2017 10:00:00 AM For many Canadians in their 50’s or older, their term life insurance policies may have come to an end. Would you know what to do next? As you get older, it’s important to re-evaluate your life insurance needs. How many years do you want to earn income before you retire? Or if you die, do you want to leave a financial cushion for your spouse, or contribute to your children or grandchildren’s education? Life insurance can help you achieve your retirement goals after you stop working, and help protect your family after your death. The third and final part of The Stages of Life Insurance series highlights some facts and figures for those preparing their retirement and estate plans. ![Plan smart with life insurance for your golden years header image](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/1_RetiredInfographic-EN-2017-03.png?width=667&name=1_RetiredInfographic-EN-2017-03.png "Plan smart with life insurance for your golden years header image") ![30% of Canadians have an estate plan statistic](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/2_RetiredInfographic-EN-2017-03.png?width=667&name=2_RetiredInfographic-EN-2017-03.png "30% of Canadians have an estate plan statistic")[![Estate planning and connect with a life insurance advisor button](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/3_RetiredInfographic-EN-2017-03.png?width=667&name=3_RetiredInfographic-EN-2017-03.png "Estate planning and connect with a life insurance advisor button")](https://www.empirelife.ca/find-an-advisor) ![Cancer statistic](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/4_RetiredInfographic-EN-2017-03.png?width=667&name=4_RetiredInfographic-EN-2017-03.png "Cancer statistic") ![Canadian retirement statistic](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/5_RetiredInfographic-EN-2017-03.png?width=667&name=5_RetiredInfographic-EN-2017-03.png "Canadian retirement statistic")[![Are you protected with life insurance? Connect with an advisor button](https://blog.empirelife.ca/hs-fs/hubfs/Stages%20of%20Life%20Insurance%20Infographic/Part%203%20Retired%20/6_RetiredInfographic-EN-2017-03.png?width=667&name=6_RetiredInfographic-EN-2017-03.png "Are you protected with life insurance? Connect with an advisor button")](https://www.empirelife.ca/find-an-advisor)   Check out our other infographics in The Stages of Life Insurance series: [Part 1: For the Young and Healthy](https://blog.empirelife.ca/the-stages-of-life-insurance-part-i) [Part 2: For Committed and Growing Commitments](https://blog.empirelife.ca/the-stages-of-life-insurance-part-ii)   \*Some life insurance advisors are also accredited estate planners.  1 Ipsos Reid financial poll, 2014 [2](http://www.cancer.ca/en/cancer-information/cancer-101/canadian-cancer-statistics-publication/?region=on) Canadian Cancer Statistics 2016. Canadian Cancer Society. [3](http://www.cbc.ca/news/business/lottery-win-is-retirement-plan-for-34-of-poll-respondents-1.2517046) CBC News. Lottery win is retirement plan for 34% of poll respondents. 2014. 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