Life insurance is not a scam.life insurance is a scam. you're buying a reverse lottery ticket. you win if you die quickly. they lose if you die very late in life.
its not worth the premiums, any actuary has only accidental death which is cheap and pays a decent $
Pretty sure life insurance payouts are tax-free.I got the cheapest kind. I think maybe a dollar gets taken out every paycheck from Target. If I croak while being employed at Target, my mom should get maybe 19K but probably less because of taxes. I mainly got it as a "just in case" thing. At least someone will get some money if by some chance, I die while being employed at Target.