Are life insurance companies taking advantage of people? Are they overcharging with their premium rates? Is life insurance simply unnecessary evil? These are questions that most of us have asked.
First, we can probably assume that you and I agree that it is difficult to defend any large corporation. If we accept that almost as a universal given then the real question you and I need to ask ourselves is, are insurance companies giving us a fair exchange for our premium dollar?
Even though a good case could be made that life insurance premiums could and should be lower it’s probably still a good purchase for us. Taken down to its basics life insurance enables a large group of people to share in the financial well-being of the individuals in the group. No doubt as the coordinator for the group, insurance companies probably do better than anyone else in the group but they do perform a good service for most of us.
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