Which is a terrible ROI....he would be better off buying term.
What's 50k going to be worth in 50 years? 10k in today's dollars?
Buy convertible term...if you need it, you can make it permanent. If not, you can drop it.
Or better yet, get a Protective policy with a decreasing DB after the level period as opposed to a reentry option.
He'll need to be worth 11m+ indexed for inflation for this to be an estate issue.
Just work harder if you're worried about paying for your funeral at 70.
Sorry.. But you are assuming there are certainties in life.. Work harder? What if the car accident at age 50 or the cancer at 60 leaves him disabled.. Now he can convert his term but possibly at a price he can't afford. Could be invested in the market but when he needs the money, we have just had a black Monday.. Yeah, it might come back but he can't wait because he needs the money now so he gets back less than he put in. He loses his heath insurance and then is hit with a major illness.. The bills force him to spend all he has. He has invested in a business of his own but then the business takes a sever downturn becasue of changing markets, material shortage, etc. Only permanent life insurance can guarantee a set amount of money at a specific point in time or on the occasion of a specific event. Oh, an your estimate of the estate tax floor 48 years from now is pure speculation. It is based on current law which is subject to change at the whim of the legislature. If the income redistributors ever get majority control, you can bet it will change.