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Most Americans have one life insurance policy. Why do incoming SEC chair Paul Atkins and his wife own 54?

The article from MSN Money discusses the unusual case of Paul Atkins, the incoming SEC chair, and his wife, who together own 54 life insurance policies. This is significantly higher than the average American, who typically has just one policy. The article explores the reasons behind this, suggesting that the couple might be using these policies as part of a sophisticated financial strategy, possibly for estate planning, tax benefits, or as a form of investment. It highlights the potential benefits of life insurance beyond just death benefits, such as cash value accumulation, which can be borrowed against or used for retirement income. However, it also raises questions about the implications of such an extensive use of life insurance, including regulatory scrutiny and the financial wisdom of this approach for the average person.

Read the Full Fortune Article at:
[ https://www.msn.com/en-us/money/economy/most-americans-have-one-life-insurance-policy-why-do-incoming-sec-chair-paul-atkins-and-his-wife-own-54/ar-AA1BMyx2 ]