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10-06-2024
Business

Answered

A life insurance policy has a face value of $100,000. The insured took out a policy loan for $10,000 and never paid it back. Policy cash value equals $50,000. If the insured dies, how much will the beneficiary receive?
A. $50,000
B.$90,000 C. Nothing (because there is an outstanding policy loan) D. $100,000

Answer :

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