Yes, if you have a policy with cash value. Term policies have no cash value. Permanent policies designed to develop cash value probably have no value if they are newer than 3 years old. Contact the insurance company for a surrender value. Also ask what other options you have (loans, stop premiums, etc).
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
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 a policy is the value or worth of the policy in the local currency, if surrendered immediately.
If your policy has a cash value associated with it you can get money for surrendering the policy. Term Life has no cash value, but a whole life or universal life policy may have a cash value in it. That depends on what type of policy it is, how long it has been in force, and assuming the payments have been made.
You can cash it in.
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
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 a policy is the value or worth of the policy in the local currency, if surrendered immediately.
cash-and-carry policy
If your policy has a cash value associated with it you can get money for surrendering the policy. Term Life has no cash value, but a whole life or universal life policy may have a cash value in it. That depends on what type of policy it is, how long it has been in force, and assuming the payments have been made.
i don't know if he has a policy...how do i find out?
no there is no cash value in a term insurance policy
You can cash it in.
It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.
The value accrued at the time of surrender of the policy is called cash surrender value of the policy. Generally, before completion of three year period, no life policy can be surredered and hence question of cash surrender values does not arise.
no
$447,879.32