There is an additional option worth exploring: a reverse mortgage line of credit, in which you can withdraw cash from the equity you have built up in your home. (startribune.com)
Whether an applicant decides to go with whole life or guaranteed universal life, a couple of options worth exploring with an agent include possibly setting up a lifetime of guaranteed monthly income for beneficiaries or including a rider that gives a policy holder the ability to waive premiums if they become disabled and can't work. (policyzip.com)