0
If you bought the policy in 1952, and have been paying on it ever since......Or, if it is a paid up policy (just accruing interest all this time), then generally you can cash it out, as long as you are the owner of that policy. However, doing this will terminate the policy, and should the insured person dies, no additional benefit would be paid.
Feel free to contact me via my profile for more information, or email jason@divineins.com
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is Ralph's Grocery Stores policy on cash back from personal check?
$25.00 is company policy.
Can you drawn funds from life insurance policy with United Investors Insurance Company?
If the policy that you have with United Investors is a whole life policy and has accumulated cash value then you can take a policy loan against it. And then you would pay that money back plus interest which is basically like paying yourself back. Or you can cash in the life insurance policy and take the cash value with you
Can you cash in my policy if my benificary died before me?
The owner of the policy can change beneficiaries at any time. The owner can also determine whether to continue making premium payments, take a policy loan, or take back the cash value of the policy. If the primary beneificiary died there may no longer be a need to keep the policy. You can change beneficiaries, or cash out the policy.
Who do you call to cash in an old policy?
the policy is a 500 hundred dollar policy was taken out on me in 1970 im 50 years old now what do i need to do to cash my policy
How do you find out the cash value of a policy?
Can I get the answer on line, or do i HAVE to call in? Where can i GET the cash value for my policy?
Cash value of policy?
Cash value of a policy is the value or worth of the policy in the local currency, if surrendered immediately.
Does whole life insurance develop cash value over time?
Yes, Whole Life Insurance policies are designed to build cash value over time. The cash accumulated can then increase the death benefit, or can be borrowed as a loan against the policy, and re-paid back to the policy.
Policy that allowed arms sales to allied warring nations if they paid in cash?
cash-and-carry policy
If you cash in a life insurance policy do you have to pay taxes on it?
"Insurance and Taxes. No. All proceeds or withdrawals from any insurance policy are not taxable." This is not true. If you cancel a life insurance policy, the growth on the cash value IS TAXABLE. If you do not surrender your policy, the money is taken as a loan and therefore not taxable, but interest that has to be paid back to the insurance company grows.
What is the difference between a policy loan and a partial surrender of a life insurance policy?
A policy loan is a loan against your cash value that you would have to pay back and they charge you an interest on the money you took out. The partial surrender is taking some of your cash value but it in effect will lower the death benefit. Careful!!
When was Cornelius Cash born?
Cornelius Cash was born on 1952-03-03.
What would your 2500 life policy by worth if you got it in 1952?
If the policy was a term life insurance policy and presuming that you paid all premiums and the policy did not lapse for non-payment, it would be considered to be "fully paid-up". Therefore, upon the insured's death, the insurance company would be obliged to pay the face value of the policy. If the policy was a "whole life insurance policy", cash value would probably have accumulated so it may have more value ($2500 plus the accumulated cash value). A definitive answer cannot be given without reviewing the policy.
