2006-06-29 05:36:43 · 7 answers · asked by MotherNature 3 in Business & Finance ➔ Insurance
so if you have $100,000 policy...when u cash it out you get the $100,000 - fees and what not..
2006-06-29 06:43:36 · update #1
That would be a whole life policy and the worst investment you can make do your self a favor and buy Term life and invest the difference in the premium in a good money market and you will have more money down the road.
2006-06-30 05:20:19 · answer #1 · answered by Lucky 4 · 3⤊ 0⤋
You can cash in any insurance policy with a cash or account value. These tend to be either Universal or Whole life insurance policies. You can cash them in anytime, however they have this little clause called "surrender charges". These charges decrease over time (usually $0 after 10-15 years, depends on the policy).
So if you cash out (cancel) your policy the surrender charges are applied to your account value and you get what is left. Cashing out a life policy also has tax consequences, but that is beyond the scope of this answer.
I hope this helps.
2006-06-29 06:18:56 · answer #2 · answered by Messett 1 · 0⤊ 0⤋
You can cash in whole life insurance policies. You won't get the full amount of the policy, however, unless you've paid a lot of premiums in over the years.
2006-06-30 04:21:18 · answer #3 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
you can cash in a whole life policy when you turn 100
2006-06-29 05:40:14 · answer #4 · answered by Jilm_Jones 3 · 0⤊ 0⤋
whole life policy...after is has gained up value usually after 3 years....or so
2006-06-29 05:39:59 · answer #5 · answered by Machelle 4 · 0⤊ 0⤋
whole life.....it has to mature first. not sure how long that is, but i've had mine for 3 years so longer than that.
2006-06-29 05:40:25 · answer #6 · answered by zoo2626 4 · 0⤊ 0⤋
WHO KNOWS BUT IF YOU LOOK ANYTHING LIKE YOU LIL CHARACTER, HOLLA..... THATS THE FINEST LIL CARTOON IVE EVER SEEN :)
2006-06-29 05:40:37 · answer #7 · answered by bigglozano 1 · 0⤊ 0⤋