I have made the same calculation regarding a form life insurance, which only pays in case of death. Which in my jurisdiction is a weird product, which makes sen

I have made the same calculation regarding a form life insurance, which only pays in case of death. Which in my jurisdiction is a weird product, which makes sense, if you have a little bit to lose, so you are above the minimum guaranteed by society, but you are not already above the point where the effects you described kick in. What makes the calculation even nicer if you are well-off enough to not have to buy it: If you actually put the money into your portfolio instead, each year you do not need it, the advantage increases further through compound interest, so at some point it literally pays for itself, while the insurance premiums would stay exactly the same.