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Message
re: Life insurance
Posted on 9/6/23 at 5:39 pm to jrobic4
Posted on 9/6/23 at 5:39 pm to jrobic4
quote:
Wrong! Insurance is more expensive relative to likelihood of use. The actuarial numbers are clear.
I understand your point. But you haven't thought his scenario through.
3% of term life insurance policies payout.
Almost 100% of return of premium policies make a payout to the insured (i.e. a repayment of premium).
The insurance company invests the term overage premium and then repays the insured at the end of the term from the internal gains.
The longer the insurance company has to invest the money, the easier it is to repay 100% of premium back.
For that reason, a 20 year return of premium would be more expensive than a 25 year return of premium. A 25 year return of premium would be more expensive than a 30 year return of premium.
1
Posted on 9/6/23 at 7:10 pm to meansonny
Return of premium, lol, that’s gotta be one of the most ridiculous products I’ve heard of but good for you guys if it makes you feel better. You could pay much less for just a term policy, invest the difference, and be better off.
Insurance/ brokers sure are great at coming up with products to produce income for themselves.
Insurance/ brokers sure are great at coming up with products to produce income for themselves.
This post was edited on 9/6/23 at 7:10 pm
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