Us- 40 yo, married 18 years, one cat, no kids or other dependants. Both working full time professionals. Parents and siblings are all in seemingly good financial shape.
House will be paid for January 2016 and since discovering MMM we have increased TFSA/RRSP investment rate to 30%, with a plan to jump it to 70-80% next year. NW currently just shy of $800k, including house estimated value.
So, a year ago, my employer sponsored financial advisor (from Big Canadian Investment & Insurance co) did up a plan for us that's since gone out the window into Canadian Couch Potato, v 2014 with 20% bond allocation. He noted our financial situation looks like the savers from post depression era, and was quite impressed, telling us we need to spend more. He pointed out two major holes - lack of a will and lack of life, disability, (etc,etc,) insurance. We both have employer sponsored insurance plans that I really know nothing about, but I think it covers travel, short & long term disability and life but to a minimum value, more than enough in my mind.
In our situation ( no dependants, house paid for, and you can spread our ashes in the ocean...), do MMM's see any good reason to pay for life insurance? I expect there will be a few thousand left over to cremate us both, so why the hell should I finance the giant life insurance co?