Lets say Joe is 40 yrs old with no life insurance. He discovers he has terminal cancer and a year to live. He can get an Obama Life insurance policy at regular rates with a preexisting cond...........40 yr old for a million in death benefit would cost about 100 a month. Joe pays the insurance company 1200 total and gets a million...what a deal. Sue has no car insurance. She is at fault, smashes some people and property up to 500,000. No problem. Sue calls the Obama car insurance and gets full coverage right at the scene without question. She pays her 100 premium and cancels it with all 500k paid. Ricardo has no fire ins on his home. He comes home to his house in cinders. No problem. Ricardo calls the Obama fire insurance and his 500,000 home is rebuilt with just a 1500 premium This is how insurance should work. Only buy it when you need it. Why pay premiums?