<prompt> Human: Edit : I got a lot of negative feedback in this thread. This really surprises me. Where I live French Canada, near Montreal, many people consider this a good option to be able to offer a fully paid insurance when the children will be an adult. My dad did this for me and now I have about 60K life insurance that I didnt have to pay. I understand that it would be better to just put the money in an index fund. Thanks guys.  <response>: Why? Its a terrible product and a waste of money. But if you insist you should look at the rating of the insurance company. That gives you a sense of their financial health. 