We investigate optimal consumption, investment, and life insurance problems by incorporating state dependence. State dependence typically expands state variables, leading to a more intricate problem. We work with an approach to state dependence that streamlines the problem rather than complicates the results and solutions. The idea is to quantify the financial worth of payments and compare these. Instead of evaluating the utility and, consequently, the moral value of the money, we take cues from derivative pricing techniques and compare payments by price or financial value. Within the financial state dependence, we further include the risk associated with life insurance and allow the agent to factor in the attitude to risk that the economic and insurance markets have established before making their decisions on life insurance, investments, and consumption. In the risk-adjusted framework, we present and interpret solutions to the optimal consumption, investment, and life insurance problem for general utility functions and CRRA (constant relative risk aversion) power utility functions.