Does this policy still exist and if it does how do I get to it? I also paid for an accident policy. This was with a Christian college who is well known for covering their butts and paying out little to nothing even if they fire you unfairly. Any answers out there?
2007-07-09 04:29:21 · 4 answers · asked by red hottie 2 in Business & Finance ➔ Careers & Employment ➔ Law & Legal
If your life insurance have cash value (not term policy), then probably it's will have some cash value after five years. But normally a life insurance only start to generate cash value after 3 years, thus you won't be able to get much cash out from the policy after 5 years.
Whether the Policy still exist will depend when you stop to pay the premium. Normally a life insurance with cash value will continues to function by itself using the cash value once the premium stop coming in. Once the cash value is used up to pay for the premium, the Policy will be voided.
2007-07-09 15:37:22 · answer #1 · answered by Tan D 7 · 0⤊ 0⤋
It was probably a term life insurance policy. You can't cash it in but you can call the insurance company that it was with and ask them if you can get another policy without medical evidence of insurability if you wish. This is especially helpful if you have any medical problems that otherwise would make it hard for you to get an insurance policy elsewhere.
2007-07-09 04:56:04 · answer #2 · answered by ideaspclst 3 · 0⤊ 0⤋
1. You need documentation from the insurance company to properly answer your questions. Do you have it?
2. Most employer sponsored life insurance programs are "term Life" and do not build up cash value. Do you know for sure that it was "whole life", which builds up a value?
2007-07-09 04:54:21 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
It will depend upon policy
2007-07-09 04:32:15 · answer #4 · answered by mohan r 2 · 0⤊ 0⤋