How Can You Cash In A Life Insurance Policy?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaIf you have cash value life insurance you may have surrender cash value. These policies have surrender charges in the early years of the policy. So don't be surprised if the account value is different form the surrender value. And keep in mind that you're terminating coverage and that you may also have an ordinary income tax event if there is gain in the contract.Answered on July 18, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.To cash in a life insurance policy, you can call the life insurance company and request a form to terminate your policy. They will instruct you on your choices, but it is far better to talk to a trusted agent, first. Cashing in the policy may not be the best option and there are more avenues than you might realize, that could save you money yet still preserve at least some of the death benefit.Answered on July 18, 2013flag this answer
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