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Originally Posted by Average_Joe
It really all depends on your current life situation. Think of it in these terms:
If I die tomorrow, what would my loved ones need, in terms of financial security, to live with the same standard of living as they have now.
Since you and your husband have no kids, then life insurance may not be important for you to own. However, if you own a house with your husband, and he needs your income to be able to pay the mortgage, and he definitely wants to keep the house after you die, then perhaps you need to take out a small policy to cover those expenses.
For those who do have children with mortgages and little savings, it is wise to have life insurance to protect the family.
BTW: I used to have a license to sell life insurance, so if anyone needs advice, I will be happy to help.
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Great advice.
It's funny how many people get talked nto buying insurance for their kids. I mean, who benefits from the insurance if a kid dies? My parent bought a small amount of coverage for our first kid but it was just in case something happened to pay for a funeral. They dropped the coverage after a year. On the other hand, my mother-in-law bought coverage for every grand kid. She then gave them the annuity when they reached 18. If she had just saved the money rather than using an annuity they would have had more to show for her efforts.
But again, insurance only benefits who is left behind. I have enough so my house and cars would be paid off and my wife could live comfortably at the same standard of living for 4-5 years. After that, she's on her own!