this is a very interesting topic.
Here is my take:
1. Health insurance obviously protects against catastrophic illness ruining families, the problem with our system is the free market FAILS when it comes to health insurance because the patient has no choice!!! If you need a service you may not be able to take 3 months to "shop around" you may be dead.
So medical equipment manufacturers and providers do not control costs because THEY DONT HAVE TO! There is no reason a MRI costs $3,000 today when you can get a 50" TV for $499.
We need single payer, Medicare for All that is the only kind that works for health insurance.
- Life Insurance: yes it can be an investment and a lucrative one at that!!!
but usually not for you.
BUT if it is important for you to leave a Legacy for a foundation, or family you can use Whole or Universal Life Policies to do just that!!!
I was a Licensed Agent for a while and one client had a $85,000 paid up policy with $85,000 cash value (she was 83 years old) we showed her how to take that cash value and use it to buy a $180,000 paid up policy she would never have to make another payment and she just made a 110% ROI!!! where else can you do that legally and immediately???
Now she increased the Legacy she wants to leave to her kids.
In my case I have a 20 yr Whole policy with a Term rider that just expired. I paid $7,000 into it over 20 years now I can keep it but my price goes up to $900 this year $1,000 next year and so on. But I'm older so even that is still a pretty good price!
But it is for $200,000 so if I live 20 more years I will probably put a total of $50,000 into the policy but my beneficiaries will get $200,000.
So like most anything financial I would say the thing to do is to write out what your goals are and speak with an expert or three to get different views.