2.7 Personal Uses of Life Insurance

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Cash Accumulation

An amount of cash accessible to the policyowner from within permanent life insurance policies.

Liquidity

Immediate funds available upon death to pay creditors, taxes and final expenses as well as cash values available for policy loans, withdrawals, and full surrenders.

Estate Creation

Life insurance proceeds paid in a lump sum provide financial assets to create an immediate estate the insured can pass on to survivors.

Estate Conservation

Provides money to pay any estate taxes or loans which must be satisfied upon the death of the estate owner preserving the insured's estate.

Survivor Protection

Providing funds for surviving spouses and dependents.


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