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Arizona Life Insurance Exam - Life Insurance Basics | Questions and answers with 100% correct solutions | Graded A+
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Beneficiary A person who receives the benefits of an insurance policy Death Benefit The amount paid upon the death of the insured in a life insurance policy Cash Value Equity amount accumulated in permanent life insurance Estate A person's net worth Illustrations Presentation or depiction of nonguaranteed elements of a life insurance policy Life Insurance Coverage on human lives Liquidation Selling assets in order to raise capital (such as using cash value for capital needs) Lump-Sum Payment of the entire benefit in one sum Minor A person under legal age
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