I carry $350K in life insurance. When I was working. I carried an additional $500K through my job. I wanted there to be more than enough to take care of my husband (who has an excellent job and makes decent money) and kids if anything happened to me.
Since COVID wrecked me, I was lucky to survive to cast my 3rd vote for Trump. Still here, still existing out of spite.
Husband still works, two kids still in the house, and now I can no longer work.
Nothing creepy about a life insurance policy. It will be my last contribution to my family.
I have policies on all my kids, too. If you ever had the misfortune to bury a child, you know how distressing it can be. Far too many people get slammed when a child dies and it adds another stressor to an already horrible situation. Since they are whole life policies, they are already accruing a cash value, several thousand each so far.
I can understand your situation, though. Sorry you lost your mom.
I’m not saying life insurance is bad. It’s just that when it’s used by others as an investment, it puts them in the awkward position of being incentivized to hope you die.
BTW, my wife’s first husband died around 1980 of leukemia, leaving her with three kids under the age of 8 and no life insurance. And then one of her boys died three years ago in an auto accident. But he had a few million in life insurance. Coupled with the several million his business partner paid her for the his share of the business, it left her sitting pretty good.
My wife and I have no life insurance. But we are “self insured”. We don’t need it and it’s not worth the money.