My mother opened a whole life insurance policy for me when I was young. I pay about $100 a year in premiums for $10,000 in coverage. It earns me about $80 a year in dividends, so I'm losing about $20 a year for this...except Uncle Sam makes me count the $80 as income!

In contrast, my employer gives me over $250,000 a year in coverage for about $50 per year!

I minored in Mathematics in college, but I didn't need to use multivariable differential equations to figure out that this is some serious Stupid Tax. I know the insurance agent who sold us this policy, and he has a nice house. Coincindence? No.

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