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Your grandfather has universal life insurance policy on you He died recently and you want to cash it in Can you do that?
Wiki User
∙ 15y ago
If you are over 21 you are now the owner and can do whatever you want. Be careful, if you are young I am certain your reasons for cashing it in are for fun and frolic rather than reason. Your grandfather bought you the life insurance for a reason and I am sure it is a fine policy. Do not now go doing something stupid. Is it in your bnest interest to cash in the policy? Seriously?
Wiki User
∙ 15y ago
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What are the benefits of universal life insurance and what are the possible drawbacks of this type of policy?
What are the benefits of universal life insurance, and what are the possible drawbacks of this type of policy
Can variable universal life insurance be converted into a fixed account?
Variable universal life insurance is not an account. It is a policy that invests in separate accounts in an attempt to earn higher returns than a fixed policy. A variable universal life insurance policy can be converted into a different type of life insurance policy but not a different kind of account.
is $241 a month too much for a $200,000 universal life insurance policy?
Is $241 a month too much to pay for a $200,000 universal life insurance policy?
What does it cost to borrow from a variable universal life insurance policy?
the interest rate is stipulated in writing in the life insurance policy
Is a flexible premium multifunded life insurance an annuity?
Its a Universal life insurance Policy.
What is a universal life insurance policy?
A universal life insurance policy is a cash value type of life insurance policy. With universal life insurance, you policy may build up cash values over time, similar to a whole life policy, but typically less expensive than whole life insurance. Another feature of some universal life insurance policies is called a "no lapse guarantee" With this feature, as long as you pay your premiums, the policy is guaranteed to last to age 100 and beyond depending on the specific carrier you choose. Compare this to a whole life insurance policy where the premium requirements may vary and depend on how dividends and interest rates perform.
Which type of life insurance policy combines term insurance and investment elements?
Universal life
If you drive a car insured by your grandfather but you have a separate policy and you crash who has to pay you or your grandfather?
Ask your respective insurance agents. You may have a policy that covers you no matter what car you drive.
Which of these is an element of universal life insurance?
This life insurance policy has two different types of death benefits.
How does a Universal Life Insurance Policy work?
Universal Life Insurance Policies work by giving death benefits when one dies. Unlike other life insurance policies, universal life insurance policies generate interest over time.
What is a life insurance policy?
A universal life insurance policy is a cash value type of life insurance policy. With universal life insurance, you policy may build up cash values over time, similar to a whole life policy, but typically less expensive than whole life insurance. Another feature of some universal life insurance policies is called a "no lapse guarantee" With this feature, as long as you pay your premiums, the policy is guaranteed to last to age 100 and beyond depending on the specific carrier you choose. Compare this to a whole life insurance policy where the premium requirements may vary and depend on how dividends and interest rates perform.
What is a policy assignment in a life insurance policy?
A policy assignment provision in a life insurance contract is one that permits the owner of the policy to sell, give or to pledge the policy as collateral. It is a common, but not universal, provision in modern policies.
