If you are asking, what do life insurance companies do with the premiums you pay for your policy, those premiums are put into safe investments like bonds. That money is used to pay operating expenses and to pay death claims. With permanent policies, some premium goes to cash value. In mutual companies, extra earnings might go toward dividends.
If you are asking where the life insurance proceeds go when the insured person dies, that money goes to whatever beneficiary they had designated in their policy.
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If you are asking where the life insurance proceeds go when the insured person dies, that money goes to whatever beneficiary they had designated in their policy.