Donald Marquez, a licensed insurance broker with 30 years of experience, discusses the importance of understanding insurance policies. He emphasizes the need to know what one is paying for, particularly in auto, homeowner's, and life insurance. Marquez explains the limitations of term life insurance, which typically covers individuals up to age 80, and the benefits of converting term policies to universal or whole life policies. He also highlights the cash value benefits of certain policies and the importance of having life insurance to cover final expenses and provide financial stability for dependents. Marquez offers a no-physical life insurance policy up to $450,000 and advises on the importance of GAP insurance for vehicles.