1. 530 POINTS
    Ms. Q. Harvelle
    Life Insurance Agent, Brokers Revolution,
    It really depends on whom you ask. For the purpose of applying for a mortgage...the answer is yes. Life insurance is counted as an asset because it represents something of value that you are the owner of. On the other hand, if you ask certain financial professionals, the answer may be no. The reason is that a financial professional may consider an asset to be property or a security instrument that is "income producing." By income producing, I mean something that is making your money multiply like stocks, bonds or mutual funds through the receiving of dividends and/or interest payments.
    Answered on June 2, 2013
  2. 95 POINTS
    David Mehler
    Agent/Owner, Mehler & Associates, Greensboro, NC
    No, term life insurance is not considered an asset. Due to the limited nature of the death benefit, along with no cash value accumulation it would not qualify for this consideration. If you have a whole life or universal life policy with cash value accumulating inside of the contract, then that WILL be considered an asset. Permanent life insurance is typically the second item listed on a person's personal balance sheet.
    Answered on September 28, 2014
  3. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    No, there is no guarantee of term life insurance paying out any death benefit, as you may not die while the policy is in effect. And it does not have any cash value. So there is no monetary amount to term life insurance to be considered as an asset.
    Answered on September 29, 2014
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