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According to court filings, the bulk of the money from the three life insurance loans is used by Stuart as part of a fraudulent transaction.
Consumers can use life insurance loans to finance major items, such as auto purchases, college educations and weddings for their children, and business owners can turn to life insurance loans to finance equipment purchases and to expand facilities.
By working with LifeQuest World Fund, organizations can create an endowment program using funds generated by premium life insurance loans.
18 /PRNewswire/ -- The National Association of Life Underwriters (NALU) said today it will actively oppose a proposal now before the House Ways and Means Committee to retroactively tax business life insurance loans.

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