One of these 8 insurance policies mentioned in this DailyFinance article
is especially relevant for retirees
Enter longevity insurance, which will start paying you a certain sum monthly once you hit a certain age, such as 85. It's relatively inexpensive, too, since many people won't need it or won't need it for very long (and the younger you are when you buy it, the cheaper it is, too). For example, MetLife (MET) recently offered a policy that a 55-year-old man could buy for $50,000 that would pay him $51,000 per year beginning at age 85.