As some have hinted here, life insurance is not a new invention, and should be a no-brainer for any family.
On the other side, torah migna u’matzla, and one need only study Torah, and not waste time over trivialities like working, education, or life insurance. Besides, HKBH decides everything, and all income has already been determined on Rosh Hashanah, so what we do on earth has no influence on what already has been decided.
Some people are adept at playing each side, all depending on who the adversary is. The excuses to explain both sides simultaneously are all quite creative, but are nonsense.