Term life insurance can be a prudent choice for those who can afford the premiums, particularly for someone looking to ensure financial security for loved ones.
A Reddit poster questions if dropping their term life policy is wise since they're comfortably retired, facing rising premiums despite having a substantial retirement fund.
Even with many factors affecting the necessity of life insurance, including rising premiums and personal risk tolerance, the decision should hinge on each individual's unique circumstances.
If a spouse is financially secure without the coverage and there are better uses for the premium costs, considering dropping the term life insurance could be rational.
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