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So I also figured out my dad literally bought a whole life insurance policy in his IRA. I see a life death benefit of $106,513 but a cash surrender value of $116,968.50. The second one is $213,112 death benefit cash surrender benefit $220541.71
So can we surrender it for more and get out of this? I mean my understanding is we would get less money if my dad dies? Am I wrong?
So can we surrender it for more and get out of this? I mean my understanding is we would get less money if my dad dies? Am I wrong?