Last week, I blogged about a term insurance that pays out benefits monthly instead of a lump sum. The benefits of such a regular-payout insurance are discussed there, but I will explore further one of the benefits mentioned which is to safeguard the beneficiaries from unwittingly investing the lump sum payout into some risky investments to stretch the duration which the money could last. When the family suddenly receives a large sum of money from insurance, it is also possible that they might be surrounded by friends and relatives who will have no lack of ideas on how to stretch the money. Considering the typical family in which the spouse might not be financially savvy, the parents are old and the children are young, they might not be able to reject risky suggestions. Hence, from this perspective, even a person who has saved enough money and do not actually ...