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Portland Charity Gains From Life Settlement Deal

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Oregon Community Foundation has raised $1.4 million by selling a $4 million life insurance policy, according to Advanced Settlements Inc.[@@]

Advanced Settlements, Orlando, Fla., a life settlement firm, says the policy had a cash surrender value of $474,000.

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Oregon Community, Portland, Ore., needed to dispose of the policy, a second-to-die policy, because the widow who had received it no longer could afford to keep up the premium payments, Oregon Community says.