I've never understood how they make their money from life insurance.

 

Other insurance, there is a risk your car might crash, your house get burgled but the number claiming is outweighed by those who don't.

 

But sure as eggs is eggs you're going to die, so they are always going to pay out.

 

Maybe I'm just numb.

Very few people take out whole of life policies as they are expensive. Most do a level term for 10 -20 years where you have to die during the term to claim, if you look at the stats people are living longer that why critical illness cover is so expensinve.

 

Only a very small percentage of policies are paid out, thus big profits for the life companies

I did a quick search on the net.

 

50 years of cover, to pay out ?120k = ?11 a month. Cost of cover ?6600

 

So, I will die before I am 80, so they will pay out ?120k ???

 

That right ?? Seems TOO cheap!

I did a quick search on the net.

 

50 years of cover, to pay out ?120k = ?11 a month. Cost of cover ?6600

 

So, I will die before I am 80, so they will pay out ?120k ???

 

That right ?? Seems TOO cheap!

Pablo, you need to pm me my business is in insurance.

Done !

 

I do all the cooking.

excellent, what's for tea?