Human Life Value Approach
Human Needs Approach
Needs Based Selling
Cross-Purchase Plans
Entity Plans
Key Person Insurance
Split Dollar Plans
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USES OF LIFE INSURANCE
The valuable role that life insurance plays in providing a death benefit
is easily recognized. What is often overlooked or not understood are
the many "living benefits" of life insurance-especially whole life
insurance. Life insurance creates an immediate estate by paying a death
benefit whenever the insured dies.The cash value feature of permanent
insurance and the owner's right to borrow from the cash value make
these policies an important source of funds to meet living needs.
This section reviews the more common uses of life insurance in meeting individual needs as well as business needs,
not only at the death of the policyowner, but also during the owner's life.
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