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Originally Posted by jIM_Ohio
each person's situation is different.
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Not only that, but your situation can and will change over time.
When I first took out life insurance, I had a newborn daughter, over 100K in student loan debt and a pretty small amount in savings. My insurance needs then were pretty high.
Now, we've got no debt except our mortgage, which is a lot smaller than it was then, and our savings have grown considerably, so my insurance needs are significantly less.
Give us another 10 years or so and our daughter will be grown and self-sufficient (hopefully), our mortgage will be even smaller and our savings will have grown even more. At that point, the amount of insurance I'll need will be relatively minimal.
So it is an ever-changing situation. That's why it is important to pull out those policies every couple of years and make sure they still fit your needs.