This question was posed to Daughter (22 yo) this morning after, once again, another argument in regards to Daughter becoming self-sufficient and responsible. I won't go into details but there was a lot of self-pity on her part and how she's always getting yelled at home and at work no matter how hard she tries, blah, blah, blah. Finally, in exasperation, I posed the question, "What would you do if something happened to Dad and I?" Her answer? Live off of our nearly one million dollars in combined assets and life insurance proceeds... After recovering from the shock of that answer, I informed her that half of that no longer exists due to the policy expiring and not being renewed last March. Additionally, those proceeds were meant for ME, or a guardian (most likely my mother)to care for her and Son while they were still children without being financially burdened. She is no longer a child and Son turns 18 next month. So, no need for that policy. The other policy, on me, will expire in 5 years. It's much smaller than what her Dad had and is meant to serve as a way to ease of financial burden for her Dad in the event of my passing. If we both go, it will not last her very long as she will split it with her brother. As for the rest of our assets, since the crash in 08, we, like a lot of other people, suffered significant loss of equity in our home. So, that's pretty much not there. husband was stunned and very hurt by her comments. Well, at least she can cross out off her list.