AIBU Not renewing my life insurance policy

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For the last 21 years I've paid for life insurance and my policy has just expired. Im wondering now whether to buy a new policy that I would pay for the next 20 years (youngest would then be 21) or put the monthly premium away into a stocks and shares ISA. I'm nearly 48, have 2 small children, no mortgage and a decent amount of savings.

IABU - of course you should have life insurance
IANBU - put the money away each month

If you died who would bring up your small children? That's acquiring a really expensive 24/7 multi-year commitment that they never planned.

I will ensure I have life insurance until my kids are old enough to earn their own money - so 21ish.
Stocks and shares can go down as well as up whereas the small amount I pay in life insurance is guaranteed to cover them if my life ends prematurely. If your life insurance is a huge outlay i can see why you'd think differently. I think I have a £300,000 policy for about £15pm

Life insurance isn’t for you.

Its for who you leave behind.

Would your partner/child be able to cope without the insurance money. Would your partner be able to take the time to grieve and get a new normal before having to cheers k on with working and carrying the load by themselves.

If you were hit by a bus after 2 months of no insurance policy what would they have to love on? A few hundred quid maybe?

Gosh with two young kids I’d absolutely pay for the life insurance. Putting the money away is all well and good if something happens in 18 years time but what if you (god forbid) drop dead in 2 years time? Or what if there has been a significant market crash just before you died?

The only circumstances under which I’d consider not having life insurance is if my children’s future would be totally financially secure without it. Which to be fair, if you are mortgage free and have a lot of savings may well apply to you.

Your children would need support so I’d renew for their sakes - I’d just get simple term insurance.