If a life insurance policy's cash value equals the policy's face amount and the proceeds are paid to the policyowner, what is this called?

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Prepare for the Louisiana Series 101 Life Insurance Exam with multiple choice questions and detailed explanations. Enhance your knowledge and succeed in your licensing exam!

Multiple Choice

If a life insurance policy's cash value equals the policy's face amount and the proceeds are paid to the policyowner, what is this called?

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