“I asked an actuary (someone who designs insurance products) who had left an insurance company what he buys for himself. Like many former actuaries I have spoken to, he said he would never buy an investment-linked plan or a whole life ......
In fact, they don’t buy a lot of insurance!
Actuaries are well trained professionals who help insurance companies balance the risks of insurance product versus an effective value that consumers will be willing to pay for it.
Actuaries mathematically evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events. Since many events, such as death, cannot be avoided, it is helpful to take measures to minimize their financial impact when they occur. – Wikipedia
So what do most actuaries buy to insure themselves?
An old article in Sunday Time’s interviews Christopher Tan, CEO of Providend: