1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    The cash value is the amount the insurance company would pay you today, after any surrender charges or loan payoffs, if you canceled your coverage. You can contact the servicing agent or the life insurance company direct requesting the current values of the policy. They should also be able to tell you the policy's basis (premiums paid). Any cash value received over basis is gain and subject to income tax.
    Answered on May 22, 2013
  2. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    Premiums paid into a life insurance contract expense the policy costs and then apply a crediting method, interest rates, indices or market equities and/or bonds resulting in the net cash values or cash value account. And depending upon when you access cash values there may be surrender charges resulting in cash surrender account. 

    Answered on May 22, 2013
  3. 5877 POINTS
    Stan Cox II
    Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
    If you have a Term insurance policy the answer is Zero. If you have any form of "permanent" life insurance you should have your agent review your policy with you annually to see exactly where the policy stands compared with the projections given in the illustration at the time of buying the policy. You should be receiving an annual report, which should tell you what your current cash value is, but if you haven't received this report you can request an "in force illustration" and that will give you your up to date figures.
    Answered on September 2, 2015
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