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Although many of us tend to view life insurance only as a way to protect our family in the event of our death, it can also be used to help our family while we are living. By taking out a variable life insurance policy, you can use a portion of your variable life insurance premiums to invest in stocks, bonds, or money market accounts. If these investments go well, you could end up with a substantial death benefit for your family if you die, plus a substantial cash value that you can reclaim or borrow against. This cash value can be used to help fund a child's education, pay part of a large mortgage, or anything else your family needs.
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