One of those "money myths" articles recently said that if you don't have kids life insurance isn't really a good deal.

How many of you guys have life insurance outside of work?

I don't. Single, no kids, no one that needs financially taken care of by me. My work life insurance will pay for funeral costs. That's all I need.

DH has it , I don't. Pretty much if anything happened to DH I would be financially crushed as well as devastated emotionally. Actually, I have something through work, but nothing that will amount to anything

I have a fairly large policy that I bought when I got married. Since that was when I was 25, I haven't bothered to cancel it. It's not very expensive, and I'll never get it that cheap again.

How many of you guys have life insurance outside of work? Especially if you don't have kids? It occurred to me I've never had a constant one. Can't work out if there's a point.

If you have no dependents, there is no reason for life insurance. Its purpose is to replace your income for your dependents in the event that you die prematurely.

I have life insurance automatically with my job. If I didn't, I suppose I'd get some minimal policy on my own because I own the condo and I wouldn't want to be all "I've left you a money pit and the associated fees! Enjoy!"

If I rented... I suppose I'd get a small policy to cover a few months of rent/storage, plus funeral expenses. 'Cause I imagine Viking longboats are kind of pricey, and some Coast Guard folks will probably have to be bribed, so it all adds up.

ita, if you are contemplating insurance, I would make sure you have good disability insurance. People are generally underinsured for disability and its far more likely you'll need that.

If you have no dependents, there is no reason for life insurance. Its purpose is to replace your income for your dependents in the event that you die prematurely.

Not just dependents, though. I don't have dependents, but I pay half of our bills, and losing my income would be a blow to Drew, too. The insurance would also pay off my debts so that they didn't get passed on to my next of kin.

I meant dependents in the sense of someone who depends on your income (or work), not tax dependents. So, even a non-working partner staying at home with kids should have some insurance, because losing them represents an economic loss to the household.

Debts don't get passed on, only assets. The assets have to stand good for the debts though, so if your loved ones want any of your assets they would have to pay the debts. Student loans are forgiven upon death.

Taking care of my death would cost money. I'd imagine life insurance would be a simple way to ensure something's there, if the will is written right.

As for the insurances for me still alive, when employed those are well taken care of. Not sure where I'd start jobless.