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If death benefit needs are temporary... why is there an entire sub-forum for final expense insurance to sell seniors life insurance? It would obviously be far cheaper to obtain the coverage while one is young.
In addition to that, you are ignoring the financial needs of being able to access capital when needed. 401k and IRAs either restrict or tax/penalize withdrawals prior to age 59.5. If you separate from service after age 55, you can withdraw directly from your 401k without a penalty. If you take out 72t payments to continue for 5 years or 59.5 (whichever is longer), you can avoid the penalty.
Families need access to capital because they will continue to buy things over time. They are an economy of themselves. Locking away access from your money is short-sighted.
In addition to that, you are ignoring the financial needs of being able to access capital when needed. 401k and IRAs either restrict or tax/penalize withdrawals prior to age 59.5. If you separate from service after age 55, you can withdraw directly from your 401k without a penalty. If you take out 72t payments to continue for 5 years or 59.5 (whichever is longer), you can avoid the penalty.
Families need access to capital because they will continue to buy things over time. They are an economy of themselves. Locking away access from your money is short-sighted.