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Cedric Montyano has a $150,000 whole life insurance policy with $35,000 of cash value. He decides to borrow $20,000 against the policy. If he dies
- Cedric Montyano has a $150,000 whole life insurance policy with $35,000 of cash value. He decides to borrow $20,000 against the policy. If he dies before repaying the remaining $15,000 of the loan, how much would his beneficiary receive? Assuming he and wife, Jayne, are in the 25 percent marginal tax bracket, how much of the insurance settlement is taxable to Jayne?
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Fundamentals Of Investments Valuation And Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
9th Edition
1260013979, 9781260013979
