Question

Maybe you have considered buying a term life insurance policy. The expected value of any term life insurance product yields a positive expected value for the insurance company and a negative expected value for you, meaning the insurance company will make profits by selling their insurance products. Would you still buy the term life insurance? Why or why not? Are there other examples other than insurance that uses this same concept?

Answer 1

Yes one should consider to buy the policy as important to have insured plan that help at the time of need.

Explanation:

• Term of life insurance is a form of life insurance which guarantees the payment of the stated death benefit. If the person des during the plan the term expires.

• The policy has no value other than guarantee benefits. The term life insurance will make products by selling products and thus it's necessary to have insurance. Health, age, and life expectancy are some of the points that need to consider for buying plans.