3. Borrowing from a Cash-Value Life Insurance Policy. Lauren Crow of Riverside, California, has a $100,000 participating
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3. Borrowing from a Cash-Value Life Insurance Policy. Lauren Crow of Riverside, California, has a
$100,000 participating cash-value policy written on her life. The policy has accumulated $4700 in cash value;
Lauren has borrowed $3000 of this value. The policy also has accumulated unpaid dividends of $1666. Yesterday Lauren paid her premium of $1200 for the coming year.
What is the current death benefi t from this policy?
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