2006-12-29 14:49:28 · 4 answers · asked by cay cay 2 in Business & Finance ➔ Insurance
No. Unless you renewed it, it's gone.
Term life is just that - pure insurance, a straight bet between you & the insurance company, whether or not you're going to die during the term. It does NOT build cash value.
Cash value policies are called Whole Life policies - you pay much, much more for them - but if you pay the premium every year, they never expire, and the premium never goes up. Part of the payment buys a term policy, part goes into a "cash value", but most goes to the insurance company for profit.
2006-12-30 02:51:38 · answer #1 · answered by Anonymous 7 · 0⤊ 1⤋
To cash an insurance policy in it has to have a cash surrender clause. Term life policies are set up that you will pay the face value within a certain number of years.
2006-12-29 14:55:10 · answer #2 · answered by D S 4 · 0⤊ 1⤋
term life insurance has no cash value, you needed to have permanant insurance
also,why do you say 15 years,then 17?
anyway, term is usually cheap so depending on the policy, just keep it until the time period is up
2006-12-29 14:56:37 · answer #3 · answered by swenjj 4 · 0⤊ 0⤋
Term policies aren't worth anything unless you die--they have no cash value.
2006-12-29 14:51:11 · answer #4 · answered by Nelson_DeVon 7 · 0⤊ 0⤋