Quote:
Originally Posted by will76
If no one depends on you financially and you don't want to leave your kids/ grand kids an nice inheritance then I guess you don't need it.
If you will be leaving them a nice inheritance then you could use life insurance to pay the estate taxes so the govt wont get as much of what you leave behind as your heirs get.
If you have business partner(s) life insurance is good to use for buy/sell so your heirs don't become their new partners.
Lots of applications for using life insurance, very few people don't have at least 1 need for it.
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The estate can pay its own tax. Life insurance is not free.
My heirs should become my partners new partners. In my mind that is how it works.
I am not a big fan of insurance just to be insured. If you have a pretty decent estate then why do you need to be insured? If I die my kids will not starve and that is pretty much all I am supposed to "insure".