In general I wonder if anybody buys insurance at all unless it is required by law (or civil contract).
For instance, you have to buy car insurance if you drive, so most drivers have it.
You have to buy homeowner's insurance if you have a mortgage.
Hardly anybody buys renter's insurance so it must be badly affected by adverse selection: a friend of mine had his apartment burn up and was told by the police that they were glad he didn't have insurance because if he had, he would have been a suspect.
As for life insurance the whole market seems pathological. A relative got trained as an insurance salesperson and all she learned was how to make an unconvincing argument for "whole life". When an election isn't on, TV is saturated with ads for life insurance for youngsters and oldsters who don't need it (no dependents.)
For instance, you have to buy car insurance if you drive, so most drivers have it.
You have to buy homeowner's insurance if you have a mortgage.
Hardly anybody buys renter's insurance so it must be badly affected by adverse selection: a friend of mine had his apartment burn up and was told by the police that they were glad he didn't have insurance because if he had, he would have been a suspect.
As for life insurance the whole market seems pathological. A relative got trained as an insurance salesperson and all she learned was how to make an unconvincing argument for "whole life". When an election isn't on, TV is saturated with ads for life insurance for youngsters and oldsters who don't need it (no dependents.)