krw wrote:
On Mon, 20 Apr 2015 12:48:37 -0700 (PDT), DerbyDad03
wrote:

Sometimes life insurance policies can "pay off" twice. Once when the
owner sells it, then again when the insured passes away.

No, once you sell an insurance policy it's no longer in force.

Incorrect.

Worse, the life payout is reduced by the value of the policy.

?? When the insured dies the owner of the policy receives the full amount
of the policy's death benefit.

If you are thinking of a policy that earns and therefore has an ever
increasing cash value, that cash value may get very close to the death
benefit value of the policy but that has nothing to do with the death
benefit. If the owner of the policy has borrowed from the cash value, THEN
the death benefit is reduced by the amount borrowed plus interest.

--

dadiOH
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