Quote:
Originally Posted by Blackbird45
I assume the insurance companies know the health of the individual, since as he said he doesn't even know these people. He showed me one where he is paying less than 3 thousand in premiums a year for a 100K policy. The insured wife is supposed to get 1/3 of the benefits and it's already written into the policy, so the insurance company handles the distribution. Even with just 2/3 he's still good for 66K. Now that I think about it, I've been seeing advertisements on TV about selling your policies.
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Buying an existing policy and buying a new policy are two different things. People can sell an existing policy when they need cash, but the company that buys the policy gets a huge discount and makes a profit. But, if you expect to make money by buying a new policy, then you are trying to outsmart the insurance company. I don't think that would be a very predictable or successful way to make money. But, it's great for the broker who gets a commission for selling the policy. That may be the whole point.