Often people consider life insurance when they have kids in an effort to make sure their kids are well taken care of should the parents pass on prematurely, but very few concerned parents are taking out life insurance policies for $10 million.
Unless you’re Kanye West and Kris Jenner is your future mother-in-law, you’re no exception.
The infamous “Momager” and matriarch of the Kardashian clan insists that the rapper take out the $10 million policy naming his coming baby as the primary beneficiary and her daughter Kim (his baby momma) as the secondary beneficiary.
Besides the amount being inflated to celebrity proportions, there is nothing unreasonable about what she’s asking, and many families structure their life insurance beneficiaries this way. Kanye agrees, and according to an anonymous source from gossip site Radar Online, he had already started looking into life insurance even before Jenner brought it up.
“Kanye is in perfect health, but he travels a lot and performs all over the world, sometimes in not so safe locales, and that concerns Kris. It’s basically just good sense,” said the source, who added that Jenner herself will be taking out her own life insurance policy naming the baby as beneficiary.
For us regular folk, working in unsafe locales may raise our premium or put a rating on our coverage given the increased risk that comes with our job, but someone like Kanye would be able to pay the premium at any cost in his sleep.
Life insurance particularly makes sense for his growing family, especially now that he and Kim have bought their first home together. Generally, for the rest of us, life insurance can be used to pay our mortgage when the policyholder dies. Kim and Kanye bought a palatial $11 million mansion in the upper-class Southern California neighbourhood of Bel Air, Beverly Hills, and likely paid cash.
Jenner tried to be the neck that turns Kanye’s head in that decision as well, insisting that the two move to a property she hand-picked in the Hidden Hills area, close to the Kardashian compound, so she could be as close to her daughter and the baby as possible. However, Kanye wasn’t having it from his future “Smother-in-Law.”
“She wanted to be able to visit Kim as often as possible and come and go as and when she chose to. Kris even suggested having her own key. But, Kanye laid down the law. He said ‘hell no’ to the idea and told Kim he didn’t want to live near her mom,” revealed the source.
Neither would we, Kanye. Neither would we.
