My quick and dirty answer to LIFE INSURANCE questions is -----
Buy enough TERM LIFE - if you need it - to protect your family in the event of an untimely demise.....
Let me qualify that.
If you have enough assets to provide for your family without life insurance - then why would you buy it? I don't have any. Don't need it. Kids are grown - house and all the other toys are debt free.
But If you have a house mortgage and car payments - and little CASH assets..... then Life insurance would certainly be beneficial to those you leave behind AND IT'S TAX FREE.... So you could leave a paid for house and cars and whatever else you choose to toss in there.
You single? Buy a $10,000 policy so somebody can bury you. Done.
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