So I spent a week in a car.....don't ask. But I noticed that the Universe, the Ruckosphere, and just about everything else got along fine without BMK.
This unnoticed absence got me thinking. If I were to go permanently on tour, who would suffer economically? I've got a wife, and a young No. 8, Connor. My debts are small, so the only thing the wife would miss is my income. Sure as shit, it ain't my conversation.
We call this economic loss life insurance. If no one suffers monetarily while you're scrumming for God, then you don't need LI. Ironically, LI should be called death insurance, but then marketing with a smile becomes difficult.
Most people who do need LI have a family and/or children. I suggest 10x income, good round easy number. IE. you make $40,000, you've got the spouse and kids, you'll need approximately $400,000. You should buy term insurance. Term Life was the original form of LI, and it is pure protection for a specific term: 10, 20, and sometimes 30 years. The premium, the amount you pay, should remain level for the term. And get it super cheap by using the internet. Buy from an A-rated company or better.
If you have assets over 2 million, seek professional help, because you probably have some estate tax issues. I suggest hiring a tax attorney BEFORE talking to an agent.
To take a tighthead from Woody Allen, "I don't want to gain immortality through my multiple tries and game saving tackles...I want to gain immortality by not dying."