Because your cordless phone is a radio transmitter, it broadcasts signals over the open airways rather than specifically between the base and handset. Therefore, it is possible for other people to listen to your phone conversation by using a radio scanner. Digital phones are better than analog phones in this area, but DSS offers the best protection against eavesdropping. Low-end 43-50 MHz and 900 MHz analog phones are not secure. In fact, most baby monitors can pick up phone conversations from 43-50 MHz cordless phones. 2.4 GHz analog phones are rare (most 2.4 GHz phones are digital), but offer some degree of protection because most commercially available radio scanners do not extend into this radio frequency.
If your cordless phone does not have DSS, then your conversation is about as private as the writing on the back of a postcard. Use care when divulging private information over a cordless phone.