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Cash worth is a living advantage that remains with the insurance provider when the insured dies. Any kind of superior loans against the cash money value will certainly decrease the policy's fatality benefit. Legacy planning. The policy owner and the insured are usually the same person, but sometimes they may be different. For instance, a business may acquire crucial person insurance on an essential staff member such as a CEO, or an insured may sell their very own policy to a 3rd party for money in a life settlement.
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