This question is best answered in context of your individual plan. Some basic comments may dispel myths or preconceptions. Life insurance comes as “term”, “universal life”, and “whole life”: each is uniquely valuable when properly aligned with your needs and circumstances. Health insurances mainly include benefits for critical illness, disability, health/dental/travel, and long-term care. Some risks are unknown in advance, such as the risk of illness or death in the next few years. Some risks are more obvious such as decreasing capacity in later years, eventual death, and likelihood of severe taxes. Properly insuring these risks can bring enormous comfort, income while living, support for survivors, and significant tax relief.