The longer you wait to buy life insurance, the fewer choices you'll have and the more you'll pay. Getty Images/iStockphoto

As people live longer and healthier lives, some of the financial decisions that were once thought to be off the table in retirement are being reimagined. Case in point? Seniors today are working longer, traveling more and often helping adult children or grandchildren financially, all of which can make finding the right life insurance policy a priority again.

But for older adults who are looking to buy life insurance coverage later in life , there's a catch: Not every insurer works well with senior applicants, and the rules about when you can and can't buy life insurance aren't always clear. Age limits vary, medical exams can complicate things and even a

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