Insurance companies don't gamble. They know the odds. They win, you lose.
That said, sometimes Insurance is needed for estate liquidity. But not as a gamble.
You make a good point. My late sister who passed away at 47 with 3 kids and 2 ex husbands who arent trustworthy had a small life insurance policy for her first born son.
That provided him with the immediate need of cash since he was heading off to college, protecting her nest eff for the youngest two children. Had all that been liquidated early and soon after her death, the SORR would have been greatly impacted.