Life insurance companies make money through a balancing act of strategically priced premiums and clever investment.
They invest the money you pay in premiums, in an attempt to make more than the value they'll have to pay out in claims.
In addition to this, life insurance companies make money through individuals paying for life insurance who outlive their policies or pay more into their cover than the amount paid out.
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Keep reading to fully understand exactly how life insurance companies make money…