A life insurance policy is like the proverbial pot of gold at the end of the rainbow.

But in the case of term life insurance policies, collecting that pot of gold can prove elusive. If the insured dies after the policy term (typically 10 to 30 years) ends, the beneficiaries get nothing. In fact, most term policies never pay any death benefits.

Purchasing an existing term policy from the insured as an investment is incredibly risky for the buyer—they’ll end up with nothing if the ... Log in to view full article.