2007-01-16 02:46:26 · 6 answers · asked by Anonymous in Business & Finance ➔ Insurance
Well, of course, ANYTHING is possible, but it's clearly going to depend on 1. the type of investment you put it into, and the rate of return you are getting, 2. the amount you are investing and 3. your lifestyle costs.
If you've got a $1,000,000 policy payout, invested in cd's which are currently paying about 5%, you're talking about $50,000 a year in income, before taxes. Some people can live off that easily, some people can't. Of course, when the cd's drop to 1%, then the income drops to $10,000, which is pretty darned hard for anyone to live off of.
2007-01-16 03:17:33 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
I think you mean by receiving the dividends from the policy. This can be possible if you have had the policy for a long time and the dividends have grown to a large amount. Then you would call the insurance company and request that the dividends be used to pay the premium with the remaining come to you in a check.
2007-01-16 12:13:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
yes, if it is enough money, you can even just leave it with the insurance company and have them just send the interest, or you can take it as a lump sum and invest in things that will give you a regular income, bond funds,dividend stock funds,whatever you want
2007-01-16 10:59:18 · answer #3 · answered by swenjj 4 · 0⤊ 0⤋
yes... if policy is large enough..
could you live off 1 million policy at 10% interest getting 100,000 a year? not rich but surely you could live nice..
2007-01-16 11:28:41 · answer #4 · answered by cork 7 · 0⤊ 0⤋
it would all depend on:
1. how much you need to live off of.
2. how much income it can provide.
2007-01-16 12:33:12 · answer #5 · answered by ricks 5 · 0⤊ 0⤋
If you have enough money it is.
2007-01-16 10:53:45 · answer #6 · answered by RodneyRowland 5 · 0⤊ 1⤋