/biz/ - Business & Finance

>>50908558
Even with your numbers you are only breaking even if you die 7.5% of the time between ages 30-60. The number is closer to 2%. The problem is there's too many people getting life insurance who know they are about to die + corporations keeping a hefty profit making it a super shitty investment for everyone else. Also it's just a time waste dealing with it all not to mention the fact that people with life insurance are more likely to suicide/ get murdered.

But a far more important point is there's really no need to "insure" your decendents anymore given the USA has a ridiculously large welfare program. Even with the worse case scenario you die at 31 your wife and kid would be fine, they'd just get on the government dole and have all their basic needs met.

Having 60k at age 60 and growing the 98% you don't die seems way better to me, especially for the goal of your children's long-term wealth.