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Hello all-

Here's our situation: My wife and I are currently 25 years old, no kids (yet). She's a medical student and I'm employed full-time. We invest monthly in a systematic mutual fund.

Our financial advisor is encouraging us to buy relatively large amounts of whole life insurance - $250K coverage on each of us, to be exact, with an eye toward increasing that amount in the coming years. His reasoning is that we will likely build up a sizeable estate in investments over our lifetimes, and our heirs can use the life insurance benefits to cover "final expenses" and inheritance taxes. He claims that this is ultimately a cheaper way to go, and that his company developed this strategy in partnership with estate planning attorneys.

While he can offer us a good deal on the whole life, the premiums still present a significant monthly cost. I'm not convinced that this is the best use of money that could go toward investments. I'm also not convinced that we will have such a large estate when we do give up the ghost - we do plan to retire and live off our investments at some point, and we might very well die broke if we live long enough.

Any thoughts out there? If you think I should consult an estate planning attorney at this early stage, please tell me so.

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