Many people do not view life insurance as an essential and vital part of a retirement income plan. They see life insurance primarily as a way to protect families from the early loss of a breadwinner during the working years. However, life insurance has the potential to be so much more if properly utilized in a comprehensive retirement income plan. Having the correct type of life insurance and the appropriate amount of life insurance coverage in retirement will accomplish multiple objectives. It can help protect your income, provide tax-free cash flow, help manage taxes, provide peace of mind to family members, and even improve the total returns in a portfolio.