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Today's Ramsey Network app question is from Adam.

He says, could you please explain how to know if I can be self-insured?

I'm 47, married

with two daughters in their teens, and I have $250,000 in investments. I believe my current life

insurance policy, which I bought from a relative is overpriced, but I'm afraid to change brokers.

At what point can I pull the plug on having insurance?

Okay.

Well, we're talking about life insurance, and so the way you answer the question back into it is,

if you die, if you die this year, okay, can your wife survive on the investments in the

situation that she's in?

Generally speaking, we would tell folks to be self-insured. on the investments in the situation that she's in.

Generally speaking, we would tell folks to be self-insured.

You would need to be 100% debt-free house and everything,

and the kids are grown and gone,

and there's a substantial investment,

and she could live off of the income that the investments create.

So if she made 10% on $250,000, that'd be $25,000 a year, and she's got two teenage daughters.

No, I don't think you're self-insured.

Yeah, I agree.

You've got to replace your income.

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