Any suggestions on how to allocate my assets in the event of my death? Technically if I live a long full life, I shouldn't be leaving it for my parents since they are more likely to go before me?

Hi anon,

I'm guessing that whole life policy is for whole life CI cover. As you have stated, you don't intend to have kids and thus death coverage is not mandatory.

Here's a suggestion that might or might not resonate with you.

If you don't intend to leave it behind to anyone after you have lived a full and long life, you may consider setting up a charitable trust or a foundation, that can be used to help the greater good, such as for the advancement of education, or research. This will be funded by your estate, and you'll want a trustee/trust company/group of trustee to administer and execute.

It's not my area of expertise but you may consider it to administer a scholarship or a busary for future needy students, as an example.

If there's no one else but your parents, why not? You can change your nominations, right? You can change it after you get married or something.

Also, your words made me wonder:

If you have no dependents, do you really need that insurance coverage?

Insurance is for people who do not want their loved ones to suffer financially when they die or become a financial burden due to disability/illness.​​​