Say a guy burns his house down because he threw a lit match into the trash.
You tell him “should have made sure the match was out.”
That doesn’t “unburn” his house, nor does it rebuild it. He already know what he did wrong.
At best your statement is assumption. Some people just have no clue about financial matters and need the lesson repeated over and over.
I've seen people refinance over and over to payoff mounting debt and disregard anyone saying "Dewd, your doing it wrong! You need to do this, this and this instead."
You tell him “should have made sure the match was out.”
That doesn’t “unburn” his house, nor does it rebuild it. He already know what he did wrong.
No it doesn't, "unburn" it however his individual distribution of wealth via "insurance" by having personally bought via forethought, will maintain his comfort in coping with his demise.
PSSST, guess what, insurance is bought and paid for only by the one who needed it. ; )
Had a friend who got into money troubles due layofs, wanted to keep his house but had an ARM due to increase a lot, went to the bank to work out a more payable arrangment, bank told him to get lost, lawyer told him to walk away from the house, after missinga few payment he was contacted by the same bank asking what the problem was and they would house payment easier, friend told THEM it was now their house and to get lost.