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You should contact your agent or the life insurance company directly, who will be able to tell you exactly how much cash value and what death benefit your life insurance policy has.
If you have continued to pay the scheduled premiums for a long time, chances are your whole life policy's cash value has increased significantly.
If you cannot contact your agent, look in the first few pages of the policy for a contact address and possibly a phone number for the insurance company. Also, Universal is often mistaken for whole life. Depending on the policy you have, it may or may not have much cash value. Do not cancel the policy for its cash value until you have spoken to a reputable agent and made sure that you are sure that you no longer need it. And taking money from a policy's cash value may shorten its life span or may require higher premiums in the future to maintain it.
What else can I help you with?
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What is 100 whole life ins policy bought in 1934 worth today?
The cash value of a whole life insurance policy purchased in 1934 would depend on various factors, including the policy's face value, premium payments, the insurer's dividend history, and current interest rates. Generally, whole life policies accumulate cash value over time and may have grown significantly since 1934. To determine its exact worth today, the policyholder should contact the insurance company for a current statement or appraisal.
How much is life insurance bought in 1995 worth today?
Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.
What is the cash value in an insurance policy mean?
The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.
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Is empire insurance company stock worth anything?
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What is 100 whole life ins policy bought in 1934 worth today?
The cash value of a whole life insurance policy purchased in 1934 would depend on various factors, including the policy's face value, premium payments, the insurer's dividend history, and current interest rates. Generally, whole life policies accumulate cash value over time and may have grown significantly since 1934. To determine its exact worth today, the policyholder should contact the insurance company for a current statement or appraisal.
How much is an average life insurance policy worth to the survivor?
The average life insurance policy is worth around 250,000 dollars to the survivor. Many people have policies that pay out even higher.
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How much is life insurance bought in 1995 worth today?
Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.
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What is the cash value in an insurance policy mean?
The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.
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.
