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Can you sell a 20 year term life insurance policy which has no cash value

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โˆ™ 2009-10-21 21:32:54
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Q: Can you sell a 20 year term life insurance policy which has no cash value?
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Related questions

How do you cash in a life insurance policy?

You call the life insurance company and get the present cash value out of the policy. The policy will then be divested.


Can you cash in a life insurance policy that is paid up?

If you have an old life insurance policy can you cash it in for cash value


Can you cash out term life insurance?

If you have a permanent type of policy such as whole life or universal life there may be some cash value to recover.If it is a term insurance policy there is no cash value so there is nothing to "cash out".


Can your dad cash out your life insurance without your permission?

Your dad can withdraw the cash value of your life insurance policy if he is the policy owner of your policy. If you have obtained adulthood, you dad cannot withdraw the cash value of your life insurance policy without your consent. If you are minor life assured, your dad as proposer can draw cash value on maturity,provided you will not be adult then.


Can you borrow money against your life policy?

Yes, if your life insurance policy has accumulated cash value. Not all life insurance policies will accumulate cash value: for example, term life insurance policies will not accumulate any cash value. Whole Life and Universal life policies can accumulate cash value and the policy owner can take loans in the limit of the cash value (some companies limit loans to 70 - 80% of the cash value).


Does a renewable and convertible term life insurance policy have a cash value?

No, generally speaking, no term life insurance policies have cash value.


Can the actual cash value of an extended term life policy be liquidated by the insured?

no there is no cash value in a term insurance policy


Cash Value of whole life insurance?

Cash value of whole life insurance is referred to as the "Cash Surrender Value". The cash surrender value is money the policyholder is supposed to receive from the insurance company when surrendering the whole life insurance policy with cash value. The cash surrender value amount due is the sum of the cash value stated in the whole life insurance policy minus any surrender charge and any outstanding loans and interest due on the loans.


Can i take out a term life insurance policy then quickly sell it?

No, because Term Life insurance policy has NO cash value.


Can i borrow from a term life policy?

No. Term Life insurance does not have any cash value and expires at the end of the term, usually age 70.You can borrow against a permanent or whole life insurance policy however, but whatever amount is borrowed may reduce its cash value.


Does your policy have cash value?

A life insurance policy may have cash value if it is a "whole life insurance policy". This is a kind of life insurance, distinguished from "term" life insurance, that accumulates cash value for the period that it is in force and premiums are paid. Each premium paid goes to pay the cost of "indemnity" (the death benefit), the administrative costs incurred by the insurer, with all or a portion of the remainder going into the cash value. The cash value element of the policy is SOMEWHAT like a savings account within the policy. It grows slowly at first but faster as the policy matures. When a sufficient amount of cash value has accumulated, policy loans from the cash value are usually allowed per the terms of the policy. The loans bear interest at a rate provided for by the policy. Term life insurance does not accumulate cash value.


Can you collect cash from your life insurance?

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.

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