<prompt> Human: Recently, my wife and I got quoted life insurance policies as an aid if either of us were to die suddenly so the survivor would have enough money to pay off the house and any outstanding bills. I am about to turn 24 and my wife is 21.The way we had it quoted was 50month each for the first 3 years, then an increase to 200month each until Age 65.For my wife, the death benefit would be 159k and for myself, it would be 104kAssuming we both live to be 66 and the market does 7 over the next 40 odd years, my wifes yearly loan amount would be 55k until she turns 100 and my yearly loan amount would be 46k.This seems like a good combination of security now as well as money for retirement. Am I missing anything?Assistant: LOL, price term insurance. term4sale.comSomeone is trying to make a commission.Human: Except if neither of us die, the money was wasted. This policy, theres a payout no matter what.  <response>: Do you have kids, or is one of you completely dependent on the other for income? If neither of those are true, you dont need any kind of life insurance. Simply contribute more to your retirement accounts or if theyre already maxed, open a taxable brokerage account with what you were planning to pay into whole life insurance here.If you do need life insurance due to the above reasons, a term policy will give you the amount of coverage you actually need 10x income at a reasonable rate much less than 400mo, and you can then invest the difference yourself.Theres really no great reason for most people to tie life insurance to retirement investing. If your car insurer offered you a policy which cost 8 times as much but doubled as pseudo retirement plan, would you take that? 