For anyone weary of writing checks to pay for life insurance, retirement used to spell relief. With the mortgage paid, the kids on their own, and Medicare and Social Security on the way, common sense suggested you could safely let your insurance expire. But if you’re like many fifty- and sixtysomethings today, you don’t have the flexibility to shorten the life of your life insurance. You could buy another term policy if you’re healthy, but that coverage could still end before your needs disappear. If you want your insurance to last for the rest of your life — no matter how long you live — then signing up for a “permanent,” cash-value insurance policy may make sense. In return, you get tax advantages and savings guarantees — plus a death benefit that never expires.