Insurance is precisely a financial instrument. "Financially, they behave almost identically to options. But that's not the intended use for the product." It i

Insurance is precisely a financial instrument. "Financially, they behave almost identically to options. But that's not the intended use for the product." It is absolutely the 'intended purpose'. It just so happens, for some products, there is a 'humanist element' i.e. fire/life/home, but it's still a financial instrument.