Anonymous wrote:Life insurance is for the young. It’s for paying for a mortgage if you die suddenly. Even if they only live 15 more years (likely could live longer) they would spend $270,000 on this policy. I think you’re much better off letting that money grow in investments and then it is available to them if they need it. And if they don’t it will go to you eventually. As someone else mentioned end of life care and those last years of life can be way way way more expensive than people realize. Maybe they will die quickly and painlessly may we all be so lucky but it’s not how most of us go. In my opinion, they should be less focused on what they leave you, but on making sure they have the funds ready to care for themselves if they live to 90, 95, 97. Needing more and more care. THAT will be the gift to you. Hopefully they have raised you to have a good job and take care of yourself and they’ve clearly already gifted you a lot, they may need to take care of themselves in future years. I’m not saying they don’t have enough - they have a great nest egg! But that’s where they should be checking first.

This may sound harsh, but it’s realistic. And should be considered as they give gifts every year just talking to a FEE BASED financial adviser to make sure they have enough to cover them for how many years to be gifting every year. People can get so focused on their heirs.. just my two sense!

Anonymous wrote:I’d gift the $18k per year (or up to $36k per recipient) and forego the life insurance.