re: Life Insurance

Definitely. You may need the option later in life, you may not. But make sure the option is there. In regards to all the bs going both ways on this thread, find a reputable company, and learn about each, and the benefits of being ABLE to convert if needed.
Someone mentioned if they had a gazillion dollars in the bank, they wouldn't need life insurance. Heres my question to that...the estate tax on a gazillion dollars is 45% of a gazillion. If you wanted to get be able to transfer your gazillion to the family, rather than Uncle Sam, how would you do it? The only real solution, and a huge part of Estate planning, involves permanent life insurance. Its wealth transfer solutions.
Let me ask another question, if your auto insurance, could "grow", give you benefits, and eventually it would be paid off (meaning you could keep the insurance, but could stop paying for it), would you pay more for it than standard auto insurance?