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Hello my name is Vic Schumacher and the company is HPE Financial Services. The question today
is how do life insurance policies work? A life insurance policy will all, they will
all have a death benefit and it is an insurance program where a benefit is paid to a beneficiary
in the event someone dies. The life insurance policy premium is based upon the age of the
person the amount of the death benefit that is there, maybe it's one hundred thousand
dollars, maybe it's one million dollars also the zip code where the person lives and his
lifestyle. Once the application is filled out it will go to underwriting and the applicant
or the person being insured will give that insurance company to check records to find
out exactly what type of person this is, how the credit history of the person is there,
if this person has had DUI's in the past. In other words who is this thing that we are
trying to insure, what are the risks that we have and why does this person want a million
dollar policy. So life insurance companies work very simple just put yourself inside
of the insurance company, would you want to insure yourself? My name is Vic Schumacher
and the company is HPE Financial Services, helping people every day.