Not always true.. a few employer policies do pay out regardless, maybe 1-2x annual salary
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Life insurance policies pay out on suicide after 2 years of policy being inforce. Also, you typically need to provide financial justification for underwriting with life insurance so in reality you are almost certainly NOT worth more dead than alive.
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Replying to @BellFizzle @Lexialex and
You're "worth more dead than alive" in the sense that life insurance usually pays more than you *currently have*, but that's the whole point - it's supposed to pay enough to your kids to replace all the money you were *going* to make in the future
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Replying to @arthur_affect @BellFizzle and
So that if you get hit by a car and die, your three kids won't have to worry about who's going to play the bills for the rest of their childhood (by this standard, most Americans who need insurance are probably actually underinsured, i.e. "worth more alive than dead")
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Replying to @arthur_affect @Lexialex and
Yes most studies show huge under insurance gap and something like 45-50% of Americans only have life insurance through work. I always tell people “if you have dependents, get life insurance.” Lot of people need it and unfortunately don’t have trusted sources to buy as well.
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Replying to @BellFizzle @Lexialex and
The trend with insurance as in many other things in this society is that the poor tend to be underinsured, often WILDLY underinsured, and the rich wildly overinsured Because insurance is part of capitalism and capitalism is broken
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Replying to @arthur_affect @BellFizzle and
Most families that actually need life insurance the most based on the idea of what life insurance is supposed to do don't have any, at all Poor families with several kids surviving on the parents' income where if one parent dies or is unable to work they're completely fucked
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Again, this was a big fight - "moral hazard" is a big deal in the industry - and the two-year exclusion was considered a decent compromise People considering killing themselves for the insurance money usually don't already have a policy and wouldn't be willing to wait two years
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