Interestingly I had a discussion with my father about this. He basically said I was stupid for not having life insurance, while living in the US (in France, where I'm from and where my parents live, apparently unions are powerful enough that pretty much any company will provide some sort of benefits in case of employee death)
He proceeded to give me the example of a cousin of my uncle, who was living in the US, lost his wife, and then burnt through all of his money despite being a millionaire, ended up as a "clerk in a gas station" to make ends meet.
I love my dad and he has been smarter than I am about money, for a long time. But I couldn't help but being frustrated at having yet again another statistically insignificant example of "I know a guy who knows a guy who...". That seems to always be the killer point people give in favor of insurance: "I knew a guy..." . I also can't connect how the guy lost his fortune, then apparently his job, and had to go back to a minimal wage salary afterwards. None of this makes sense and my father didn't give enough details: he was trying to convince me with a bullshit example and I'm sure he made up part of the story.
Bottom line, my parents are shit scared of the US because here it's every man for himself, while in Europe the community as a whole apparently handles it better.
I checked with my wife, it turns out I have a life insurance on my name, it is crazy expensive (~$5000 a year) which is somewhat justified by the fact that it's coupled with an investment scheme (with great returns of 1% or so...), something I now know is a "no-no" thing to do. To make things even more complicated, that policy was open in Japan (where my wife is from). Next time we go to Japan I'll have to cancel that thing, but am now considering opening some other form of life insurance, as I'm growing concerned that my plan for my wife and kids does not take into account the potentially insane taxes that could be taken from my brokerage account in case of death.
So, bottom line is I'm kind of back-pedaling on some of the stuff I said before. One can be FI, but what happens to your money at death could be complicated if you're in a situation like mine (expat), some of your "passive income" streams might not be so passive, and so your significant other could have trouble getting all the money back. So, being FI now is not the end of the calculation, one needs to understand what happens to the money in case of death (or disability == increased expenses), and if the current stash would cover it.