If you don't have life insurance, why not?

[ShiteheadRevisited]

My DH says we don't need life insurance because we rent and don't have a mortgage.

But if he died (touch wood this will not happen for a very very long time!!), my salary alone wouldn't cover the rent...plus we are hoping to start a family in the next couple of years.

We are both only in our late 20s but sometimes I really really worry about our financial future... should we be spending money we don't really have right now or not bother??

We don’t. We rent. Work full time and earn similar amounts. We have lived a life with very little and it wasn’t that terrible, so would just adjust if it happened. And I don’t want to organise something like that.

What, in the name of all that's holy, do I need life insurance for?

I have one to cover the mortgage “on the house my ex lives in” if it wasn’t for that I wouldn’t have any. I do get 4x salary as part of my pension at work. And enough savings to burn me.
Don’t see any point apart from the mortgage to have any even then why am I paying so if I die my ex gets a mortgage free house. No kids so who would I leave it to?

I am a single mum and I have enough assets (money in dc pension schemes etc) that if I died dds would be fine financially. I do have death in service benefit free at work too but I wouldn’t pay for it. I’m getting older so it is expensive now.

I didn't have life insurance when it was just me and my two older DC (10 and 9) even though the mortgage advisor did the hard sell. I reasoned that if I died, the DC would go to live with their dad, so the mortgage wouldn't need paying off - they would get the equity in trust.
However, I have a baby and 'new' partner now so I have taken out a policy for the amount remaining on the mortgage, plus around 20k more. This gives me peace of mind that if something happens to me, DP could take a long period of unpaid leave while the baby is young and help her adjust to no longer having me there. (He has a job that he could easily leave and go back to.)
Once the baby is in school, I will probably cease the payments.
I am mid-30s and healthy, so it may seem unnecessary to some, but it only costs me £11 per month.

If you can afford premiums and have a child it is best to have life inaurance.If you start early and keep the premiums fixed than you can get a cover for £100k for £30 or less.
It can help in paying funeral costs and any inheritance tax that might be due on your estate.