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Cash value is a living advantage that continues to be with the insurance provider when the insured passes away. Any kind of outstanding loans versus the cash money worth will certainly minimize the plan's survivor benefit. Legacy planning. The policy proprietor and the insured are generally the same individual, however in some cases they may be various. A company might get crucial person insurance on a vital staff member such as a CEO, or an insured may sell their own policy to a 3rd celebration for money in a life settlement - Long term care.
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