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List the value of the policy

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Question - Walter owns a whole-life insurance policy worth $61,500 that directs the insurance company to pay the beneficiary $255,000 on Walter's death. Walter pays the annual premiums and has the power to designate the beneficiary of the policy (it is currently his son, James) List the value of the policy, if any, will be included in Walter's estate upon his death?

Reference no: EM133007064

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