He doesn't want to work, but he can't afford to quit. The organization he was employed by for many years had an unusual benefit program. If he had died five years ago his wife would be a multi-millionaire today. Unfortunately, when he reached mandatory retirement, his job and his life insurance ended. They have very little savings.
Life is full of financial trade-offs.
Here the extremes were no life insurance or all life insurance. Actually, life insurance is not life insurance at all, it is death insurance. It pays off to your loved ones in the event you die. It might be more proper to refer to your investments as life insurance. Investments pay off to you and your loved ones in the event you live.