how are insurance companies similar to networking companies?

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Or do insurance companies operate like MLM companies? In what way? We know that there are huge insurance companies out there with billions of assets already, they'd been here for years and give the best service to those insured. We also know that many multilevel marketing companies have failed and closed overnight. In short, most MLM companies fail to sustain the business while most insurance companies continue to stay in the business. So how are the two similar? I am asking this question because a friend of mine is of the opinion that working for any insurance company is like working for an MLM industry. Share your thoughts on this.