My insurance company told me 70% of my premium is for life coverage, 27% for critical complaint, and balance 3% is slack. What is this "slack"? Can anyone serve me, please? Thanks!
Answers: The "slack" is designed to cover the future cost of insurance and any variance contained by the costs. That way, instead of raise you premiums as you get elder and their risk increases they can dip into the "slack" and the interest it has generate to cover the rising costs without asking you for more Money.
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Answers: The "slack" is designed to cover the future cost of insurance and any variance contained by the costs. That way, instead of raise you premiums as you get elder and their risk increases they can dip into the "slack" and the interest it has generate to cover the rising costs without asking you for more Money.
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