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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For a few health reasons, getting life insurance will be very expensive for me, around $200/month, even though I am young. We can afford that but it seems like an awful lot of money. Is it still financially smart to do? We have two young children and I out earn my spouse by a lot. [/quote]

how much insurance is that for? if it is for whole life, get a term life instead. consider also getting a few policies. for example, we have a 10 year and a 20 year policy for my husband. we thought about how much our mortgage is now and what our college savings accounts look life and wanted to be able to pay off mortgage and fully fund college if dh were to die. 10 years from now our mortgage is much lower and we will have almost fully funded college fund so we would need less. the savings were pretty good but we actually used that to get more coverage. on the other hand, with my health history- mostly complications from pregnancy - i am uninsurable so i would love a 200 a month quote![/quote]

I consider it a luxury but we have enough to cover all costs including mortgage, education and not having to work a lot, or at all, in the event that I die.  A big chunk is term, some is whole but I sleep better knowing that there will be a great lifestyle without any financial worries if I am gone.

Personal situation aside, I think insurance is a great peace of mine.  I get pleasure from writing that check.
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