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Cash value is a living benefit that remains with the insurance firm when the insured passes away. Any type of outstanding loans versus the cash money value will decrease the policy's survivor benefit. Term life. The plan owner and the insured are usually the exact same individual, but often they might be various. For instance, an organization might acquire essential person insurance policy on a crucial employee such as a CHIEF EXECUTIVE OFFICER, or an insured might offer their own plan to a third celebration for money in a life negotiation.
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