I was looking for life insurance just in case. I found a company that will give me $2 million at $37 a month. So while I know the basics on how it works. If $37 a month for say 30 years doesn't come close to $2million yet if or when I die my beneficarary should get like $2 million dollars. So how is it that the insurance companies make repeated profits. I know they have other things like auto, renters, hurricane, tornado, earthquake, even kidnapping, as well as home, flood, fire, & other policies that help offset life insurance policies still it seems hard to believe how they make money let alone time & time again & often large amounts. It seems like they either do well or not & again obviously those based on nature mostly but still my question is how do they actually make their money?
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Like I said call me dumb thanks all the answers were very helpful.