Insurance expert David Paige told Business Insider that, as a result of their age and pre-existing conditions, many retirees will not be able to replace their life insurance. AdvertisementSears survived liquidation, but the same can't be said for its retirees' life insurance coverage. Insurance expert David Paige told Business Insider that the news isn't good for retirees. Unlike health insurance, life insurance has no rule stipulating that insurers can't reject applicants for pre-existing conditions like illness. AdvertisementThis isn't the first rumble of trouble regarding life insurance coverage for Sears retirees.

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Persons: Sears, David Paige, —, Paige, Eddie Lampert, Ron Olbrysh, Olbrysh didn't, Read, Sen, Bernie Sanders, Olbrysh, NARSE Organizations: National Association of Retired Sears Employees, CBS, Service, Sears, Chicago Tribune, Tribune