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.

I just found a policy for my deceased father. the certificate number is 0070-w-s-245. Effective date is January 1, 1948. What do I do to find out more on this policy?

Contact the company and ask them.

A "cash loan", as you have called it, is a loan based upon the cash value of a whole life insurance policy. Only whole life insurance policies (not term policies) accumulate cash value. Each premium payment is allocated between the cost of providing the indemnity protection (the "pure" protection), the administrative costs of the company, and what may be considered a "savings" element that is built into the policy. But do not confuse the "savings" element with a real savings account, because it is not; insurance is protection, not an investment. The cash value builds slowly at first but more rapidly as the policy matures.

All of that said, whole life policies generally allow for policy loans against the cash value of the policy. The loans bear interest at a rate stated in the policy. They need not be repaid, but if they are not, the accumulting interest eats away at the indemnity benefit. Likewise, if the loan is not repaid at all, upon the insured's death, the principal amount of the loan plus accrued interest is deducted from the indemnity benefit paid to the beneficiary(ies).

Part of the process of buying life insurance involves the designation of a beneficiary-the person(s) or entity(ies) that will receive the proceeds of the policy upon the insured's death. The beneficiary(ies) can be changed during the insured's lifetime, but as of the time of death, the designated beneficiary is entitled to the proceeds. If no beneficiary has been designated in the policy, proceeds are usually paid to the estate of the insured.

It all depends upon the intake of your alcohol and whether you declared the same while filling up proposal form for your life insurance policy. It's at the discretion of the insurer to accept the claim of accidental death due to choking for alcohol intake.

Very basically, insurance is a contract (called an insurance policy) between one party (the insurance company) and another (the insured).

In the case of life insurance, it is a life that is being insured. In return for the periodic payment of money (called a premium) to the insurance company, the insurance company agrees to pay a sum of money when the insured (whose life is insured) dies. The money is generally paid to the person (or sometimes an entity, such as a charity) that is designated in the insurance policy as the beneficiary. The beneficiary is designated by the insured when the insured buys the insurance but can usually be changed up until the time of death.

There is typically a period of time, often 2 years, from the inception of the policy, that suicide as a cause of death is specifically excluded; that is, no benefits will be payable. Once that period has passed, all other things being equal, if a persion dies by suicide, benefits will be paid according to the terms of the policy.

Contact the policy provider

American Equity Investment Life Holding Company (AEL)had its IPO in 2003.

As of July 2014, the market cap for American Equity Investment Life Holding Company (AEL) is $1,743,059,487.75.

The symbol for China Life Insurance Company Limited in the NYSE is: LFC.

Home State Life Insurance Company ended in 1958.

Home State Life Insurance Company was created in 1929.

actually i started reliance life insurance(cash flow plan) at 14th june 2011 and after i paid two premiums yearly, and i now i want stop my insurance due to some financial problems

so please give me suggestion , how can i collect my previous amount and what is the procedure

TATA AIG Life Insurance was created in 2001.

The motto of New York Life Insurance Company is 'The Company You Keep'.

Upon the death of the insured, the person or persons selected as the receiver of benefits in the contract receives the benefits or money from a life insurance policy.

Double indemnity can be added to an insurance policy to allow the insured to receive a higher benefit.

The decreasing term insurance has its face value reduced as the policy ages.