Quote:
Originally Posted by Slava
you should not need life insurance for the rest of your life.
Yeah, this is true....if you can die with no property, wealth or obligations that you want satisfied. Either that, or if all of the saving that you are doing is 100% tax efficient, and there are no worries then.
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Life insurance is meant to replace lost income. A rule of thumb is the insurance value should be 8-10 times your annual income in order to replace your income. If, through investments you manage to create a pool of money which could replace your income upon death, you are now self insured.