re: Northwestern Mutual - Should I?

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You do know thos "retirement" funds you're referring to are taxable correct? So if you kick it over tomorrow and your wife decides to cash out your retirement plan becaus you thought that was the better idea then that $100k or whatever it is will be added to her income.

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No wife (that's not legal in LA). But seriously, my better half wouldn't need to cash out the retirement funds cause he has a damn job. As do I. I'd just roll it over....

Regarding the cashed-out retirement funds, they're indeed taxed....but the whole point of this scenario was that the surviving spouse needed income...thus is going to be in a lesser tax bracket after the loss of spousal income.

My original point: term life can have some useful applications, but don't assume it is a necessary part of a financial plan. Work out what YOU need, according to your values and vision. Don't buy term life simply because you watched Mutual of Omaha commercials throughout your childhood.