Maybe I just don’t understand what they’re doing. BUt it seems to me if I take out a 10 year policy that costs $100 per month, I’m betting that I’m going to die within that period of time and the company is betting that I won’t or that they won’t have to pay out. If I get to the end of that 10 year term, then I’m just out $12,000. What am I missing?
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It’s insurance, not a savings account. Your paying to offload the financial risk of you dying to someone else. Your paying to make sure that your family is financially taken care of if you die. Also, that $100 a month is very high.
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