What is the point of Life companies? Much of the public think of them as parasitical, yet, as John Pollock explains, they do much more for the greater good than just insure people
What is the point of life companies? This is a question to which one might immediately answer; ‘to insure people against unforeseen events’ or ‘to provide financial assistance in times of need’. Those answers are not wrong – far from it. It is just that life companies are so much more than simply organisations that take on risk on behalf of individuals and companies. It is worth outlining why life companies have a vital role to play, right from the heart of the family home to the boardrooms of UK PLC. Let us look at the obvious factors first. Insurance is peace of mind or a financial saf...
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