Terminally Ill Man Backed Over Ignoring Parents to Cash Out Life Insurance

A terminally ill man has been applauded for disregarding his parents’ wishes and cashing out a life insurance policy to fund the final few months of his life.

According to the man, who shared his story to Reddit as Defiant_Theme4812, his parents had been keen to keep the policy in place, as the payout would “set them up for life.” However, he is unmoved.

A study conducted by the Life Insurance Marketing and Research Association (LIMRA) in January 2021, found just 52 percent of Americans have some form of individual or workplace life insurance.

While close to half of the U.S. adults polled in the study appeared to be without life insurance, the value of having a policy in place has been put into stark focus by the experience of Defiant_Theme4812 who discovered he was terminally ill at the age of 28.

According to his Reddit post, the policy has been in place since he was 18, and, because of his age, his family will receive “an eye watering amount” when he dies. However, in recent months he’s begun to have second thoughts.

Though he has been living at home with his parents after receiving the diagnosis, he said they “haven’t had the best relationship growing up” and he’s often felt like they only did the “minimum required by law” in raising him.

Eager to enjoy his final few months, the man said he has been “investigating cash outs” on insurance policies and has worked out a deal where his parents would receive enough to cover his funeral with a little left aside.

In turn, he would get enough “to rent a nice condo near the beach, nice meals, maid service, some great experiences while I am well enough, and some in-home care nursing towards the end.”

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