david
Good for what?? Good for who??
All insurance is good for the salesman and good for the company. That is how they make their money. They have people study death statistics constantly so that they know how much to charge you to make a profit.
==== There is an old song about how bad things are going in this guy's life. One line in the song is "and all my friends turned out to be insurance salesmen." === My brother is an insurance salesman (since 1970). He works 3 hours a day, plays golf every afternoon, goes on 6 vacations every year, owns 2 homes --- and he is not at the top of the food chain in his company. ==== Yes I have a very poor attitude toward insurance.
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Think about it. Insurance is a gamble. The company is betting that you live long enough to pay more in than they will pay you back and you (the customer) is betting that you will die and your beneficiary will get more money than you ever pay in.
==== My attitude is, Why should I pay for something to make someone else happy when I'm dead?? <<< That is only half-way joking.
The Ins. Company uses guilt to sell you their policy. Don't you want to provide for your loved ones when you "pass on" ( they can't even say "die").
If you are in decent health and do not take risks (skydiving, mountain climbing etc) then you are probably gonna pay them a lot more than they ever will pay back. ==== So you should take whatever money you would pay them and just put it into a S&P mutual fund. === If you can afford to pay them, then you can afford to put the money into savings.