The bottom line is that the end product you actually buy and its price is very usually (not always) a commodity, set by the marketplace. I am able to find another product, made by another company, with nearly the same risks, rewards, and price. I could easily call technology a commodity, the edge may exist, it erodes much more quickly than you might think (why I don’t buy a top-of-the-line computer, the price is going to drop quickly, with better features, at a blink of an eye).

Why? The math used in determining prices largely known, and the world is hyper-competitive. Easy example: the premium for Medigap Plan G, for a turning-65 female can be a price tie, down to the penny. The same thing can be said for term life insurance for a 40 year old female.

By the way, there is a reason that I frankly state that individual and group health insurance is more complicated. That is because the competition is not as fierce (it is getting better, but still not there), and the math is far less transparent.