Originally Posted by murraypaul
Financially, they are still a very good deal for the companies selling them, and therefore must be a bad deal (purely financially) for those buying them. It is a zero sum game, if the finance companies are making money, it is because on average they are charging more than they are paying out.
That's true of any insurance policy, of course. Eg, in 30-odd years I've never made a claim on my house contents insurance, or on any travel insurance policy. I'm the sort of person that insurance companies love