My philosophy regarding Insurances is :
If you cannot afford the consequence of an event (even if its probability is very small), you should insure against it.
So I have health insurance and house insurance (If my apartment burns down and I have to reimburse it, i am bankrupt, end of the story).
As a mustachian with already some money aside, I do not believe in Life insurances. Your stash is already having the role of a life insurance and usually insurance companies invest your premiums at a very low rate of return…