A very small fortune, since I had already mentioned it would be paid for with life insurance.
It seems that insurance increases the expected amount of money that will be paid rather than decreasing it. The benefit of insurance is not a reduction in (expected) cost but a redistribution of money from possible futures where you are fortunate to possible futures where you are unfortunate. This is a service that you pay a premium for.
It seems that insurance increases the expected amount of money that will be paid rather than decreasing it. The benefit of insurance is not a reduction in (expected) cost but a redistribution of money from possible futures where you are fortunate to possible futures where you are unfortunate. This is a service that you pay a premium for.
Sure. But actually, I was referring to the fact that it doesn’t involve a large lump sum payment, or “fortune”.
Well, it assuaged their doubts about cost, anyhow. Cost was not the issue here.