Is Life Insurance Considered An Asset?
4330 POINTSview profileJerry Vanderzanden, CLU, ChFCCo-Founder, Coastal Financial Partners Group, CaliforniaThe current cash surrender value of the policy is the asset value of a life insurance contract. As property, life insurance has value and is liquid. If the policy owner decides to "cash in" the policy, the insurance company will pay the cash surrender value to the owner within a week or two.Answered on May 17, 2013flag this answer
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaLife insurance is personal property, i.e. an asset, a tax advantaged asset, an asset that may be creditor proof. Permanent life insurance generally two financial components: cash values and a death benefit. These components can be collateralized, endorsed, sold in life settlements, borrowed against and used as a source of supplemental income.Answered on May 27, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.When calculating your net worth, you look at the net cash value of each permanent policy and denote it as an asset. The net cash value is the amount that you would receive if you were to cash in the policy today. You can find that by ordering a current illustration from the insurance company.Answered on September 6, 2013flag this answer
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