There was once a point in my life in which the possibility that I would one day die seemd more than remote; while I did not quite suffer from the illusion that I was immortal, nonetheless it was difficult for me to imagine being dead.
Those were also the days when a no exam life insurance policy could be issued without anyone blinking. I first signed up for life insurance at the incredibly young age of 23, and hundreds of thousands of dollars in life insurance was an excellent gamble for a company.
As a young man, though, my death would be an incredible burden for my wife and children, so it made sense to take out a policy to protect my family against an unfortunate demise.
Alas, I am now in my forties, and insurance companies view me as a much more significant risk for anything more than a low-cost policy that would just about cover the cost of burying me. I still carry quite a bit of life insurance, but with my kids growing and moving out (plus the not inconsiderable amount of money we have invested in 401-Ks, 403-Bs, mutual funds, and other vehicles), OI begin to question whether I really need the stuff.
Sure, my survivors could have one hell of a party with the hundreds of thousands of dollars that would be paid out, but I could also be investing those pricey premiums and earn a much better return on my dollar over the next twenty years (assuming I make it until at least 65).