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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Term Life policies primarily benefit the Insurance company and the commission of the selling agent. If the piece of mind has some value to the buyer then maybe there is some justification. Otherwise it’s a horrible economic decision.
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