How to stop parents from buying unwanted life insurance
Parents often insist on purchasing whole life insurance or children's plans despite clear objections and attempts to explain the issues. This leaves people dealing with policies they do not want and unable to convince relatives to stop maintaining them.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1Letting them pay the premiums while treating it as a gift and planning to cash them out laterDid this help you?
- 2Trying to convince them to gift cash or fund alternative accounts like 529s or Roth IRAs insteadDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“No matter what I tell them about what I’ve read about whole life insurance, my parents insist on having whole life insurance policies.”source ↗
“My parents opened Gerber life grow-up plans for both of my kids when they were born. There was no convincing them otherwise, and they maintain it.”source ↗
Where this came up
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