So, just to illustrate what a [expletive] rip off insurance is, let's take a look at my wifes policy and just use average life expectancy:
Initiated at age 30, pay $3300/year for 20 years, average life expectancy of women is like 78 years old.
According to engineeringtoolbox which has awesome time value of money calculators
https://www.engineeringtoolbox.com/disc ... _1234.html F/A (20,5,330) = $109,118
So in 20 years at 5%, the annual premiums have a value of $109,118. In other words, if you took the same payments and made 5% on them, at the end of 20 years my wife would be 50 years old and have an account value of $109,118.
But, she still has 28 years, on average, of life left.
Then, F/P(28, 5, 109,118) = $427,757
So, by the time of death at age 78, that $109,118 would have grown to $427,757 at 5% over the last 28 years. The insurance company will pay out $250,000 for a profit of $177,757.
This is all assuming 5% growth, assuming 10% returns, that $427K jumps to $2.7M
[expletive] them.