I don't think that's a good fit for a person in your situation. It's so unlikely that you'll die in that period. I don't know about if you have kids, a house, or your work situations, but I would consider lowering the the payout and investing the rest in a retirement account. If you dropped it down to $500,000, your wife would still be fine for years after you died. If that freed up $40 that you could invest every month, it would result in over $50,000 that you would have at retirement.