<prompt> Human: I was reading a NYT article about money management and it set four basic principles. 1 Set up an emergency fund. 2 index funds should be the bulk of your portfolio. 3 buy an affordable home emphasis on affordable. 4 buy life or term insurance.All of it seemed pretty in line with typical pf advice except that last one, which I dont think Ive ever seen come up. How important do you guys think buying life insurance is? Does it get forgotten because reddit skews young? Is this something to add to the what to do with ?  <response>: Life insurance is almost always worthless if you dont have dependants. If you do have dependants, purchasing term life insurance is the most cost effective way to ensure that they have the money to survive in case of your early demise.The wiki already has an article on Life Insurance 