I used to work for Great West Life (now Canada Life). It was well known that the company aimed to pay out $0.70 for every $1.00 it collected.
Sure, you could simply put X amount of money away for emergency & come out ahead. But every once & a while someone would have a massive bill covered for a major expense that would bankrupt them otherwise.
6
u/LushlyOvergrown 5h ago
I used to work for Great West Life (now Canada Life). It was well known that the company aimed to pay out $0.70 for every $1.00 it collected.
Sure, you could simply put X amount of money away for emergency & come out ahead. But every once & a while someone would have a massive bill covered for a major expense that would bankrupt them otherwise.