[quote=flu]
You can always cancel the term life insurance if you no longer need it.
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This is what the insurance companies rely on. Sum up the payments with an estimated alternate return and it is no where near what the coverage is(except when the coverage goes over the age boundary of about 73.).
Insurance should only handle liabilities that could not be covered on a death (mortgage would be a good one since the wife would now have to handle raising kids on one income instead of a shared income), but it does not substitute for an IRA, savings or anything like that. Remember, it only pays out on your death.. and in the mean time, you are paying until you get tired of it.
