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Cash value is a living advantage that stays with the insurance provider when the insured passes away. Any kind of outstanding loans against the money value will certainly decrease the policy's death advantage. Estate planning. The policy proprietor and the insured are typically the exact same individual, but occasionally they might be different. For instance, a business might purchase essential individual insurance coverage on a vital employee such as a CEO, or an insured may sell their own policy to a 3rd party for money in a life negotiation.
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