Absolutely. This needs to be shouted from the rooftops endlessly. And no tax implications, either.
Why shout something from the rooftops which is blatantly stupid?!?
There are too many variables on the table to determine its truthfulness.
Are we talking about a $30K policy? Then it is not even close. Even a $1Million policy would not suffice for some. Most people do not buy multimillion dollar policies.