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Assuming that you are speaking of whole life insurance. the answer depends upon the rate of accumulation of cash value. Cash value is the "savings" element that is built into a whole life policy. That is, a portion of each premium is applied to the cost of the insurance protection, and a portion is credited to cash value.
Depending upon the kind of whole life policy that is involved, the "savings" portion of the premium can be invested in a mutual fund or some other sort of investment vehicle. Therefore, the growth of that amount can depend upon market forces such as the Stock Market. If the market flourishes, cash value can increase quickly; if it does not, cash value will suffer. Other kinds of whole life policies exist that promise only a minimum cash value accumulation that are specified in the policy. In those, cash value usually accumulates more slowly.
The answer also depends upon whether premiums were paid all during the life of the policy. Again, using a whole life policy as an example, it may provide that if premium payments stop, the insurance company may keep the policy "alive" by taking future premium payments from the cash value. This would reduce the cash value proportionately, depending upon for how log it is done.
If you are referring to term insurance, no cash value accumulates at all. It provides a death benefit only, which is payable when the insured dies. The premiums paid are lower than those for whole life insurance because there is no savings element built into the policy.
What else can I help you with?
What is the premium term life insurance?
Term life insurance is an insurance one would buy if they are looking to insure themselves for a specific term such as 20 years. This is a relatively low cost and basic insurance plan. Premium term life insurance is when one insures their life for a longer period, such as 30 years, and if they do not die in that time, the premiums that were paid are returned back to them.
Who would be able to have life insurance during ancient Rome?
Life insurance did not exist back then.
How do you get money back from lapsed life insurance met life?
how do you get money back from life insurance met
Where can you get cash back life insurance?
One can get cash back life insurance through various life insurance providers such as Farmers Insurance, Metlife, AAA Life Insurance or State Farm. Look in your local yellow pages for more information.
How much money will you get back from life insurance if your spouse died after 30 years of marriage?
This depends on the policy. The best thing to do is to call the life insurance agent to ask about the specific policy in question.
Do you have to pay back life insurance if the missing person is found?
No, you do not have to pay back life insurance if a missing person is found.
Do actors have life insurance?
Anyone can have life insurance. So actors would have life insurance.
Can your beneficiary collect life insurance benefits after your suicide in the state of Tennessee?
No, if the life insurance policy is less than two years old. Some insurance companies would not pay at all in case of suicide. It all depends on the conditions in the life insurance policy.
How to Save on Life Insurance?
Life insurance is typically obtained in order to provide monetary security for the family when an individual passes on. The most critical time period is the years parents spend raising their children. Once the kids go to college, the need for life insurance is not as imperative. Whole or term life insurance are the main types of life insurance available. By choosing term life insurance for a set number of years instead of whole life insurance, hundreds of dollars could be saved. The critical period would be covered, giving parents peace of mind.
How can I find out if a letter stating there is unclaimed moneys are held for me from union fidelity life insurance company of new york are legitimate?
How do I trace the original insurance company of union fidelity life if it goes back 45+ years?
On which website can I receive an instant 30 year term life insurance quote?
www.intelliquote.com is the website where you can find that readily.Guaranteed Term. 10 Years, 15 Years, 20 Years, 25 Years, 30 Years. you can Get instant term life insurance quotes from top life insurance companies.
How many years does it take to be a Life Insurance lawyer?
In the United States, it would require seven years beyond high school completion; four years for the bachelor's degree, and three years of law school to earn a juris doctor degree (JD). However, to practice, the individual must also pass the bar-exam. In most European countries and in most countries in general, law is bachelor's degree and therefore only requires four years beyond high school completion. Regardless, you just have to be hired by a firm that specializes in insurance or has an insurance practice. However, there are not that many "Life Insurance Lawyers" since life insurance does not usually have substantial litigation, which is where insurance lawyers who deal with insurance claims primarily make their income. Probably a better way to deal with Life Insurance in a legal capacity would be as General Counsel to an Insurance Company.
