Some Mighty Expensive Life Insurance

According to a West Virginia lawsuit, a couple paid $1 million in premiums over 20 years for a $3.2 million policy.  Here’s the story, which doesn’t discuss the specifics of the policy.  Probably there were some "whole life" or investment aspects to the policy, but the plaintiffs’ lawyer has at least one good point on his side in his misrepresentation case: anyone who can afford to pay an average of $50,000 a year in life insurance premiums probably either doesn’t need life insurance or could pick a much better investment.