When Can I Use My Life Insurance?

1. 

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   David Osgood

   Agent, Rural Mutual Insurance Co., Union Grove, WI

   I'm not certain what the actual question is but, you can use your life insurance when you die. Death is when you use your life insurance. Other than death you wouldn't be using your life insurance you would more than likely be borrowing from it if your policy has this option. Contact your local agent to discuss your questions or concerns about your policy, they are best equipped to answer them properly.

   Answered on August 13, 2013

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2. 

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   Peggy Mace

   Most of the U.S.

   You can use your life insurance for the cash value when there is enough cash value accumulated to borrow from. Unless you paid in a large lump sum at the start, it usually takes some years to accumulate a substantial amount of cash value. If you are not using the policy for cash value, then the face amount is paid upon death.

   Answered on August 16, 2013

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3. 

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   BILL HANNA

   Agent, WMH Consulting LLC, Fort Worth, Texas

   If your Life policy has a cash value option, it must have an adequate accumulated value to borrow from.It can take many years to accumulate an adequate cash value to borrow from.If your Life policy does not have a cash value it is payable to designated beneficiary(s) upon death.

   Answered on May 29, 2015

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