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Would not touch with a 40ft pole.
There's no guarantee that a company you pay into now, will go the decades until the claim without going bankrupt. You become a deceased unsecured creditor. About as low on the food chain as it gets.
Your family may not know about the policy.
Your family may have trouble making the claim.
I suspect that the rates are so attractive due to the very low payout rate.
Glend seems to have the best advice. Put the money in a savings account. You can put it in your will that that money is to be used for your funeral.
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