In Canada, the mortality experience is identical to that in every other country in the world. One death per lifetime. In other words, death is certain. A death benefit under a life insurance policy is then not probabilistic, it too is certain.

That clear, but obscured, fact can help you put life insurance in a somewhat different context. In exchange for a premium, you will be certain to get something back. If the amount you get back is worth more than you put in, then it is a good investment. Albeit not one you can use easily.

How can it be a good investment, the client cries? Insurance companies did not get big by being altruistic. If they make a lot of money then I must be the loser. There is no one else in the game. I lose what they win.

Partly true, but there are more than two…

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