I’m probably just stupid 😭
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Hi there. I sell and manage life insurance policies.
Term insurance like the majority of people have almost NEVER pay out so it’s pretty low risk to the company.
They mostly make money investing your premiums into other investments, and if millions and millions pay $40 a month, that’s a lot of fuck around money
Hi there. I sell and manage life insurance policies.
Term insurance like the majority of people have almost NEVER pay out so it’s pretty low risk to the company.
They mostly make money investing your premiums into other investments, and if millions and millions pay $40 a month, that’s a lot of fuck around money
Hi there. I sell and manage life insurance policies.
Term insurance like the majority of people have almost NEVER pay out so it’s pretty low risk to the company.
They mostly make money investing your premiums into other investments, and if millions and millions pay $40 a month, that’s a lot of fuck around money
Life insurance is a gambling game you play with a company.
“I bet you $40/month that I will die in the next 10 years. If I do, you have to give this person $500,000. If not you can keep the money.”
Like all gambling games, it’s a matter of statistics. Since life insurance companies set their own numbers, you can be assured that it’s strongly in their favor.
Life insurance is a gambling game you play with a company.
“I bet you $40/month that I will die in the next 10 years. If I do, you have to give this person $500,000. If not you can keep the money.”
Like all gambling games, it’s a matter of statistics. Since life insurance companies set their own numbers, you can be assured that it’s strongly in their favor.
Life insurance is a gambling game you play with a company.
“I bet you $40/month that I will die in the next 10 years. If I do, you have to give this person $500,000. If not you can keep the money.”
Like all gambling games, it’s a matter of statistics. Since life insurance companies set their own numbers, you can be assured that it’s strongly in their favor.
In short, it’s just legalized gambling. You are betting that you’ll die in the next 10 years by tossing $40 onto the poker table every month.
The insurance company is betting you WON’T die in the next 10 years and backs up their bet with $500,000.
The insurance company almost always wins your money. But not all the time.
At $40/month for $500k of insurance, roughly one out of every 105 customers would have to die in that 10-year span for the insurance company to NOT make a profit. (if I did my math right)
In short, it’s just legalized gambling. You are betting that you’ll die in the next 10 years by tossing $40 onto the poker table every month.
The insurance company is betting you WON’T die in the next 10 years and backs up their bet with $500,000.
The insurance company almost always wins your money. But not all the time.
At $40/month for $500k of insurance, roughly one out of every 105 customers would have to die in that 10-year span for the insurance company to NOT make a profit. (if I did my math right)
In short, it’s just legalized gambling. You are betting that you’ll die in the next 10 years by tossing $40 onto the poker table every month.
The insurance company is betting you WON’T die in the next 10 years and backs up their bet with $500,000.
The insurance company almost always wins your money. But not all the time.
At $40/month for $500k of insurance, roughly one out of every 105 customers would have to die in that 10-year span for the insurance company to NOT make a profit. (if I did my math right)
Life insurance companies are educated gamblers. They are betting that you are not going to die for the next 10 years. To play the game, you pay $40 a month. If you “win,” i.e. die, the insurance company loses and your beneficiaries get $500K.
If you lose, you pay $40 a month for the next ten years and get nothing, and in the insurance company “wins” (they get to keep it all and pay you nothing).
As an aside, some term policies are convertible to full life insurance policies, but are usually more expensive and I would not tell this to a 5 year old.
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