What exact is whole life insurance, and how do life insurance companies profit from selling it?
January 14, 2010 by
Filed under life insurance
Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such [...]
How do life insurance agencies make their profit?
January 6, 2010 by
Filed under life insurance
I have a few questions here and thanks in advance.
Can anyone please explain how do life insurance agencies (or financial advisory agencies) make their profit?
Is that true that the life insurance companies are paying around 100% of total first year premium to the agents? How do the agencies split that with the agents?
I would [...]