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Insurance companies make money by collecting premiums and deductibles from customers. Not everyone will ever use their insurance policy, so the company profits from those cases.
Pharmaceutical companies and insurance companies will not make as much money!
IT companies do inovation in IT not Banks. Banks make large amounts of profit from money people put into the bank. IT companies make money on the volume of IT they sell
Annuities are purchased from insurance companies. The insurance company take the money and invests it to try to make more money for the investor. They pay the buyer back in installments.
There are a lot of companies that allow you to get insurance with sr22. One of them being progressive. They determine insurance rates on how much money you make.
To make sure customers don't lose money if their bank fails.
this would only make sense if you are talking about having various life or annuity policies with various insurance companies. It would be pointless with car or health insurance because that would be throwing your money away
Life insurance companies charge a premium to everyone who they provide insurance for based on the amount of coverage and the health of the buyer. The higher the amount of the worse the health, the higher the premium. These companies assume that only a few people out of the larger group will ever collect at one time, and therefore make money on all of the other people who do not ever collect.
Online car insurance companies offer cheap policies to people who are low risk drivers. This is because they generally can still make money, as they are safer drivers.
You pay premiums because insurance companies are a business and they are there to make a profit. Also, the premiums you pay go into a pool of money so the insurance company can pay out claims when necessary.
The best thing to do is look up a couple of companies who offer life insurance, such as your bank, and many private insurance companies. Then explain to the agent your circumstance to see if you are covered under their policy, and to make sure you can afford to pay the premiums every month.
Get rid of your pit bull. (Or Rotties) There is nothing you can do . . . the insurance companies are in business to make money, not to give their money away. It is known that of all dogs that have killed people, pits are responsible for about 67% of those deaths. An insurance company would be crazy to insure someone who owns a pit. Overall across America, they would lose money. When insurance companies write insurance policies, they have to do so on the basis that they won't even have to pay out on the vast majority of policies sold.