Life Insurance are usually bought for protection. You have a set of dependents that you don’t want to leave hanging should something bad happen to you. So you purchase protection that covers a certain amount of their future annual expenses.

This is normal.

But what if you would want to game the system? What if you want to see if you can invest in a high probable lottery?

You purchase life insurance for your parents.

This plan didn’t ran through my mind, but it certainly did for a group of people, this is what I been told by someone. The folks in question really believe in doing this.

The rational is you purchase the insurance for the parents, treat this as a form of “investment” in the hope that you will hit the “jackpot”.

The conflicting thing here is that your parents would one day pass away. That’s the nature ...