pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I got taken in by that when I was in my 20's. Not knowing any better I just went to the same agent my father used and got the shaft. Unknown to me at the time I had all the life insurance I needed free from my employer (one year's salary). I was single, no dependents, no debt, why do I need life insurance exceeding what the funeral would cost? ...
The primary reason for buying insurance at that age is to lock it in so if something happens and you can't get life insurance later in life when you need it you will have it. The whole life policy that I bought in my 20's had options for me to add additional insurance at standard prices without underwriting. Luckily, I never needed them.
Back to the OP's question, you probably don't need life insurance unless your wife would need the money to live in the lifestyle to which you are accustomed if you were to die.
Like OldShooter, I let all my term insurance lapse over 20 years ago once we had accumulated enough assets that if I were to die that DW and kids would be provided for.
I did keep that whole life policy that I was sold in my 20s. While I believe that buy term and invest the difference is preferable, the whole life policy hasn't done too bad. These days, I think of it as an interest bearing investment with no interest rate risk and negligible credit risk. It paid me 3.8% in the last policy year, and average of 4.9% since 1977, and if I were to die the tax free death benefit would result in a 7.3% after-tax return since 1977.