Get the minimum insurance you will need to take care of your kids and pay any debts that would be hard or impossible to pay if your wife were to become disabled

Get the minimum insurance you will need to take care of your kids and pay any debts that would be hard or impossible to pay if your wife were to become disabled. Anytime you buy insurance you have to be ready to do some math. If you make enough to cover a caregiver (often covered or partially covered under health insurance) for your wife and have a strategy for taking care of your kids then you may not even need it. I'm fortunate enough to live close to both my parents and my wife's parents. Because of this and because we have decent savings we decided against disability and life insurance for her. We are in the process of getting better life insurance for myself but are keeping it as low as possible to cover our debts and living expenses until the children are old enough to go to work in the coal mines.