In reality, life insurance is purchased for more reasons than just paying a death benefit to a spouse or family members. Other parties may be interested in the economic value of your life.....and stand to lose out if that value is not replaced through life insurance, such as your business partner (or future bp), or the bank that holds the mortgage on your house, or taxes due upon death from your investments and assets. You likely don't need a million dollar policy but the rates on a 10 or 20 year term policy for $250,000 are incredibly cheap and most policies can be converted as your needs change. You don't need a wife and kids to start estate planning.
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