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Generally, no. Only whole life policies accumulate equity.

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โˆ™ 2012-04-02 03:41:11
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Q: Can you take money from term life insurance policy for a first home purchase?
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Related questions

What is a purchase money first mortgage?

A purchase money or first mortgage is the mortgage granted in order to purchase the property. It usually indicates that the title was examined, a certification of title was issued by an attorney and a title insurance policy was written.


In what country is insurance cheap to buy?

Insurance is cheap to buy in India. One can purchase car insurance policy at Money Supermarket, eSurance, Cheap Car Insurance, Money Savings Expert and many more.


Can you use money from term life policy to purchase a home?

Yes, if you are the beneficiary, you can use the life insurance benefit for any purpose.


Should a family budget money for the purchase of an individual health insurance policy?

you jackass i was obviously trying to cheat cause i dont


How can one sell their life insurance policy?

One can sell their life insurance policy and this is called Viatical Settlement. An insurance company sells insurance policy to a person. This person (viator) sells his policy to another person (viatical settlement provider). When the first person dies, the second person will benefit and cash in the money.


Can money be pulled out of a life insurance policy prior to death?

You must direct your question to the insurance company that holds the policy.


How do you get insurance money?

Insurance money is paid when you make a valid claim against the policy and can prove why the situation falls under the terms of the policy---whether it is Life Insurance, Car Insurance, Accident Insurance, Travel Insurance, etc. Call the Insurance Company for exact details.


What is an unmatured life insurance policy?

The life insurance policy has a maturing date that determines the time it takes for a policy to accumulate the amount of money essential for the policy. An unmatured life insurance policy is one that hasn't yet reached the end of its policy.


How do you get your termination money in a lump sum for life insurance policy?

Send in your policy and ASK.


How does an insurance company benefit from insurance?

When an insured purchases an insurance policy they pay the insurance company money for the insurance coverage. This money the insurance company collects is called insurance "premiums". The insurance company, using the law of large numbers, collects more money in premiums than it pays out in claims. The insurance also makes alot of its money by taking the money earned from premiums and then investing it. As we all know that Life insurance policy cash values are accessed through withdrawals and policy loans. However, withdrawals are taxable to the extent they exceed basis in the policy. Loans outstanding at policy lapse or surrender before the insured's death will cause immediate taxation to the extent of gain in the policy and hence benefits the company.


My partner died and left an insurance policy but didnt make a will i had 3 children with her am i entilted to her insurance money?

Not unless you are named on the policy.


Person who receives money from a life insurance policy?

Beneficiary

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