I disagree so much with this. If you are married to someone who is financially independent and you are childless and you’ve had a vasectomy, maybe it’s worth the gamble?
Other than that, I strongly believe that if there is a possibility that you might have dependents in the future, you absolutely should buy it because it’s dirt cheap and you don’t know if you might develop a medical condition in the future which drastically increases the cost of coverage.
I used to have a blog post on this. :()
I pay $700/year for a 30 year $1,000,000 term policy. It will expire when I turn age 59ish and my retirement accounts will be accessible.
There’s no reason I can’t cancel it early if I turn age 45 and still have 0 dependents. And hey, if I die unexpectedly young, my family gets a nice payday.