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Money value is a living benefit that continues to be with the insurance provider when the insured passes away. Any type of superior fundings versus the cash value will lower the policy's survivor benefit. Living benefits. The plan owner and the insured are usually the exact same person, but in some cases they may be various. As an example, an organization could acquire key person insurance coverage on an important worker such as a CHIEF EXECUTIVE OFFICER, or a guaranteed could offer their own policy to a 3rd event for money in a life settlement.
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