Is life insurance good or bad?

Life insurance can be good and can be bad. It is good if it is priced fairly and the consumer pays a premium rate that reflects the risk and a reasonable margin for the insurance company to pay its expenses and make a fair profit. It provides a mechanism to pool the risk and pay a compensation to those who suffer the insured event.

It is bad if the insurance is priced in a predatory manner, over-charges the consumer and is sold with inaccurate and misleading statements - so as to allow the insurance agent to earn a fat commission and the insurance company to make a fat profit.

Read this article.