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"Lets say a guy is 40. He takes a 10k loan. He dies at age 50. He never made payment on the loan. Is there new interested added every year (for the ten years) or is there a one time interest charge added at the time of the loan?"
Possibly.... or you could change your dividend election to reduce loan and loan interest.... another dividend election choice that can be made.
Possibly.... or you could change your dividend election to reduce loan and loan interest.... another dividend election choice that can be made.