I’m probably just stupid 😭
In: 4901
The insurance company is betting you’ll still be alive in ten years, and the “*Term Life Insurance*” policy will expire worthless.
They keep your $4,800 and you stay alive. You can renew the policy, but now you’re ten years older and it will cost a lot more.
If you were 75 years old they’d refuse to renew it again – you all know the odds now.
You can get “Whole Life” plans that don’t expire, but they’re much more expensive and function more like an investment account.
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