tmrand - 2/9/2021 08:59
Boone & Crockett - 2/9/2021 07:06
Only 2% of term life insurance policies are ever paid out, so that is a very profitable core business also.
That's an amazing statistic right there. I'm not saying you're wrong..............but do you have a source? In case I need to repeat it??
Term insurance is designed to not be in force when you die. Don’t believe me, try buying a term policy that covers you beyond your average life expectancy. Using the law of large numbers, this strategy practically guarantees the odds are stacked in the companies favor because the vast majority of term policies have either reached their maturity date or been terminated due to non payment of premiums before the majority of policyholders die. My own experience pretty much follows industry wide experience.