No ... // . wrote:
I sold term insurance for a very short time a couple of decades ago.
Although it's better than whole life, it still is not necessary and there is no reason to have it.
You're much better off simply taking good care of yourselves, and self insuring for any eventualities.
This ^ is INSANE!
You want to provide for your children in the unlikely event of your untimely demise. There is no way that "simply taking good care of yourselves, and self insuring for any eventualities" does this unless you are already extremely well off financially. If you don't have $1,000,000 in the bank then get term insurance to ensure that whoever raises your kids will have the resources to do so.
Again, the notion of "self-insurance" is absolutely INSANE in the scenario that the OP described (unless the OP is rich).