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An insurance company makes profit by making more money in premiums than it pays out on claims.
I read that employers often take out life insurance policies on their employees to make money in the event of their deaths.
But how would an employer make money in this instance when it pays all of these employees premiums?? An insurance company sets their premium rate so that it covers the cost of a statistically likely number of claims that are made.
I read that employers often take out life insurance policies on their employees to make money in the event of their deaths.
But how would an employer make money in this instance when it pays all of these employees premiums?? An insurance company sets their premium rate so that it covers the cost of a statistically likely number of claims that are made.
How does life insurance work in the case of employers taking out policies for employees?
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