Hey David, thanks for your comment and glad the post is useful.

It’s really a personal decision. On the one hand, 5 years is a long time to pay for life insurance if you don’t have dependents (my opinion). If you die childless (knock on wood), the value of life insurance is presumably less without dependents (assuming your fiancee/wife is able to work and doesn’t depend on your income). It becomes a lot more valuable once you have people depending on you (who cannot work). On the other hand, your premiums will be lower when you’re younger. Be aware that some insurers offer lower premiums after you’re married (on the theory that you’re less likely to do risky/dangerous things vs. as a bachelor).

Thanks for this article, very insightful. I’ve also enjoyed the spreadsheet – super helpful!

Is it worth having life insurance if your are expecting children in the next 3-5 years? Or is it better to wait until the children come? I have a life policy of 2 years salary through my work, but not enough to cover the mortgage that would be due if I were to pass away. (Also, getting married in 6 months)

Thanks,
David