4

Your client just died. He owned a life insurance policy on his daughter. The relevant information about this policy is as follows: Face Value $1,000,000 Cash surrender value $50,000 What is included in his estate? a. $1,000,000 b. $20,000($1,000,000/$50,000) c. $50,000 d. $525,000(($1,000,000+50,000)/2) e. Nothing BONUS Q: What is the true value of an insurance policy called? (Three words) (Hint: it is close in value to cash surrender value Your client just died. He owned a life insurance policy on his daughter. The relevant information about this policy is as follows: Face Value $1,000,000 Cash surrender value $50,000 What is included in his estate? a. $1,000,000 b. $20,000($1,000,000/$50,000) c. $50,000 d. $525,000(($1,000,000+50,000)/2) e. Nothing BONUS Q: What is the true value of an insurance policy called? (Three words) (Hint: it is close in value to cash surrender value