The worst thing a married man can do is take out life insurance on himself to benefit his wife.
High-Pathetical Situation…
Married Guy comes home and tells wife, “Honey, when I die you’ll be a millionaire!”
What is keeping him alive?
It’s also stupid to take a life policy out on her. Women always outlive their husbands, so he’ll never collect unless she gets hit by a bus or something. It may be a good idea if he’s a bus driver.
And you don’t want to leave money to the kids. Did your parents leave any to you? If they did, you’re probably a jerk. Kids need to Make It On Their Own.
Insurance is defined as; a means of protecting or safeguarding against risk or injury. Therefore, Life Insurance would be a means of protecting or safeguarding against death.
I Got New For Ya! In the history of the planet, or longer if you can find any, not one single solitary individual who ever purchased life insurance was protected by it.
They All Died!…or are still waiting.
The fact is, the policy holder is paying hard earned dollars every month betting that he will die. The insurance company is betting that he won’t. Who/whom does he root for?
I don't have any kids and am currently not married. But, I paid in for life insurance my entire working life. If I had invested that money in stock, I'd be rich! Instead, now that I've retired from my last university, I find that the insurance that I spent all this money investing in, is declining as I age. Of course, I never read the fine print when I got all that insurance 40 years ago. In order for the insurance company to be sure they don't lose money, they have reduced the payout as I age. Even though I paid all these years, if I live to be 100, there won't be any money for my beneficiaries. It's a crying shame!
On the other hand, a couple of other insurance policies that I've had have paid off handsomely.
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On the other hand, a couple of other insurance policies that I've had have paid off handsomely.
Never mind.
Bye, George,
Ron