Again, this isn’t always true. While your savings may last you through your retirement, who will shoulder the final expenses related to your death such as estate taxes, funeral, and burial costs?
If you have an unfinished mortgage, will there be enough for your loved ones and surviving family members to hold onto your property?
A life insurance policy will give you the allowance to enjoy your savings during your retirement without worrying about these expenses. Go on vacations which you were too busy to enjoy while you were working. Travel. Take up new hobbies. Do what you want with your savings and let your insurance policy cover the cost of your passing.