How Life Insurance Works?

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    Peggy Mace
    Most of the U.S.
    The basic way that life insurance works is like this: the money you pay for your life insurance policy (premiums) pays for operating expenses for the insurance company, and goes into funds where it can be accessed to pay your beneficiaries when you die.  Some policies also have cash value that can be used while you are alive.
    Answered on December 26, 2013
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