The purpose of life insurance is supposed to be to replace your lifelong earning potential for someone who was depending on it (if you're raising a kid, eg), and most people's lifetime earning potential has been trending down from what they were expecting https://twitter.com/Lexialex/status/1317927771297828864 …
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Replying to @arthur_affect
Most people I now right now view "life insurance" as something that will cover their funeral and at most a year of their income for their family.
1 reply 0 retweets 7 likes -
Replying to @brigidkeely
One problem is that the "right time" to buy life insurance if you're ever going to buy it is when you're as young and healthy as possible, before they have any reasons to bump you into a more expensive category But that's when most people have no idea if they're going to need it
2 replies 2 retweets 18 likes -
Replying to @arthur_affect @brigidkeely
Like, bluntly, if you never end up having kids or other dependents then life insurance is objectively a waste of money (It mathematically HAS TO BE, the actuaries' whole job is to make sure an insurance policy has negative expected value, that's how the company makes money)
5 replies 3 retweets 18 likes
So asking people to purchase life insurance on the individual market is asking them to consider life questions that may well be totally irrelevant to them several years in advance ("how much money will your kids need if you die")
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