You buy a life insurance policy to cover your family’s expenses after you die. If you bungle — by getting too little coverage, skipping payments or not updating your policy — the result can be a quagmire.
The same goes for celebrities, with oodles more money at stake. Their life insurance policy errors can lead to dwindled coverage equal to far less than what stars are worth.
Whitney Houston's accidental bathtub drowning death last year related to heart disease and cocaine use was shocking, but not completely surprising, given the 48-year-old Grammy winner's longtime struggle with drug and alcohol abuse.
What was surprising was that she reportedly had only $300,000 worth of life insurance, even though documents filed in her 2007 divorce from Bobby Brown claimed she earned more than $1 million from performances.