Advances in medical technology and other factors, such as nutrition, have made it easier for more people to live to the age of 100 or beyond.
As people live longer, it becomes more important to properly plan for post-retirement financial needs - including life insurance. For some people, a whole life insurance policy is a good option because of the long-term income it can provide.
Others seeking a lower-priced solution can consider a term life policy that protects loved ones until an individual reaches a certain age, after which a policy can be renewed for another set amount of time.
A recent Forbes article touched on the growing trend of centenarians across the country, advising people that exercising, avoiding cigarettes and following a healthy diet with plenty of vegetables are crucial strategies for longevity.
However, the article also noted that about 25 percent of one's expected longevity can be attributed to basic genetics - which means that even the healthiest lifestyle will not always be a guarantee of making it far into old age. In light of that reality, it makes sense to protect loved ones with the right life insurance policy.