Insurance companies make money in a number of different ways depending on the situation. Find out about how insurance companies make money with help from a financial expert in this free video clip.
Expert: David Boike
Bio: David Boike, Founder and Managing Member of Retirement Resources, is a veteran in financial services with nearly three decades of experience.
Filmmaker: Jerome Sawyer
Series Description: The details regarding a particular insurance policy change depending on exactly what type of policy you're talking about. Get information on various types of insurance policies with help from a financial expert in this free video series.
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You didn't explain how the payout of an insurance policy ( when a covered person dies) is really the divying up of the premiums gathered up that year to the people who pass away. The insurance company's really make thier money on the interest they get from the premiums.
Because It's not just each person paying for their own coverage - it would be impossible. Insurance requires a large number of people to be involved. If you pay $1,000 a year for homeowners insurance, after 10 years you'd have saved $10,000. If you have a fire and your house burns down, $10,000 will not cover it, I'm sure.
Hey can i give u money to insurae my house, sure *gives money for years*, *tornado comes and recks house* hey i need that money back now to fix my destoryed house, NOPPPPPPPE dat my friend was an act of GAWWWWDDD
+Random Famous Youtube commenter In Canada Great West Life makes money the easy way. Deny all claims. Live or die, live on the street, go bankrupt, none of this matters to the shareholders. Great West Life as any other Insurance company is self appointed Judge, Jury and Executioner.I wonder how much money in political donations per year it takes to operate a business above the law.
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