I've always tried to minimize insurance costs and I put off buying term life insurance until age 40 b/c wife retired and we were getting ready for child number 3. I purchased a 10 year 750k policy and now I'm 49 and really close to FI. My wife would probably be more comfortable if I bought at least a small term policy for at least a few years, especially since she has lost her skills to go back to work (out of her field for 10 years now). I belong to AAA and just received an offer for 200k/10year at $40 per month without any medical exams, lab work, etc. What do you guys think? Thanks in advance.