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You are an AI Assistant who can answer anything</s>.
<|user|>
What is obamas life insurance?
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President Barack Obama took out a $400,000 life insurance policy during his first term in office, according to a copy of the policy seen by NBC News. This information was not made public until it was released as part of a government report on Obama's finances in February 2017. Obama's policy is with Assurity Life Insurance Company and is part of a portfolio of life insurance and long-term care insurance policies for federal employees. The policy's face value is double what Obama and his wife, Michelle, initially sought when they applied for life insurance. 

It is not uncommon for presidents to carry life insurance to protect their families in the event of the president's death. It is also a way for the president to leave a financial legacy to their families and a means to pay death taxes.

In addition to this policy, the Obamas also own a life insurance policy for $600,000 issued by New York Life Insurance Company. This policy was taken out when their income was much lower.