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Reply to "Ok not to have life insurance?"
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[quote=Anonymous][quote=Anonymous]Early 40s. We have a reasonably high NW (3ish M) with very little of that from our house and an income of around 600-700k. Our debt payments are very low as a percent of income around 7-10%. I have 2 yrs cash salary (which is much lower than my annual comp) life insurance policy from work. My spouse makes much less than me and has some through employment, too. Does it make sense for both of us to have life insurance or just me?[/quote] Just you. Can your spouse max 401K on their salary alone and still maintain current lifestyle with kids EC, vacations etc? If not, then get life insurance for you. I am assuming that you can maintain your current lifestyle without your spouse's salary. The $3M will continue to grow and will help pay for college and retirement for the surviving spouse.[/quote]
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