Theory of decreasing responsibility

Term insurance provides protection while building wealth. When wealth has grown big enough, one doesn't have to die to leave something behind since there's available cash from the investment.

The theory of decreasing responsibility is a life insurance philosophy promoted by Primerica that holds that individual financial responsibilities rise and then decline over the course of a lifetime and that life insurance amounts should reflect those changes. These responsibilities include paying consumer debts, mortgages, funding children's education and income replacement. It is promoted by proponents of term life insurance (as opposed to cash-value insurance).

References

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