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Anybody hear of this vehicle? It was explained to me that I can take out an annuity (invest in certain mutual funds); having the $$ grow tax free and then borrow against it a a zero % interest rate, but I must pay it off at sometime. Then there is a life insurance rider attached to it, say if I die that the amount borrowed will be subtracted from the proceeds of the life insurance policy part. Is this correct and can somebody give me some guidance as to what the heck this Animal is all about?
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