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[quote=Anonymous]I got a 20-year because (a) I have a lifelong chronic autoimmune disease that, apparently, from the standpoint of life insurance underwriters makes me a worse risk than if I smoked multiple packs a day, so any insurance was annoyingly expensive and (b) that term length was enough to carry us through our kids being out of college. Plus, related to (a), my parents bought several whole life policies for me when I was first diagnosed with this disease in elementary school (that they've generously continued paying the premiums for, possibly because they feel guilty about their lousy genes), back when it was relatively affordable to do so, so if I die a few years after the term expires, my spouse will still get something.

Seems like there's no particular reason to insure for 10 years longer than your kids can reasonably expect you to support them. Once college tuition is paid for (and hopefully that'll mostly be covered by our 529 savings, anyway), I don't need to be paying some insurance firm thousands of dollars a year so our kids can get rich in case I die.[/quote]

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