3 Insurance Stocks That Could Make You a Millionaire
Often overlooked in this era where investors are seeking out fast returns, insurance companies just might offer you a decent path to millionaire status over time.
Insurance is all about putting a price tag on risk, which makes it one of the most inflation-resilient business out there. After all, as costs go up, so do premiums, even if those premiums remain fairly consistent in terms of the percentage of value of the assets being insured.
In addition to that natural resilience to inflation, insurance companies have a fairly unique ability to make money by investing other people's money. When you buy insurance, your premium is pooled with the premium of other insured people and is available for the company to pay out on claims. While in the hands of the insurance company, that money -- known as float -- can be invested by the insurance company, with the insurance company retaining any profits from that investment.
Source Fool.com
