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Cash value is a living benefit that remains with the insurance policy business when the insured passes away. Any kind of outstanding loans against the money worth will reduce the policy's fatality benefit. Whole life insurance. The plan proprietor and the insured are usually the exact same person, yet sometimes they may be different. For instance, a business may acquire vital individual insurance coverage on an important worker such as a CHIEF EXECUTIVE OFFICER, or an insured might market their own policy to a third celebration for money in a life settlement.
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