it is potentially not true that you would pay more in premiums than the payout, since insurance companies can make a profit on people who let their insurance lapse before dyin
Yes, but you might fall into that category as well—future is uncertain. The expected value of the payout is less than the sum of premiums (after proper time discounting).
Yes, but you might fall into that category as well—future is uncertain. The expected value of the payout is less than the sum of premiums (after proper time discounting).