how does “cashing out life policy/insurance” work in America? Why can you cash it out while you are still alive?

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Is like a special savings account?

In: Economics

6 Answers

Anonymous 0 Comments

There is types of life insurance that let you go “I don’t want this anymore” and they will give you back less than the payout but more than you put in because it was invested (but less than If you regular invested). This is used as a weird tax loophole or when you are desperate for money

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