What Is My Life Insurance Worth?

  1. 712 POINTS
    John Cole
    Recruiter/Manager, Cole Insurance Investments, Charlotte N.C.
    Truly we would need to look at your contract if it is term life it is at face value for a certain amount of years and some states allows return of premium while other states don't. Whole Life can build with interest as do the new IUL will have a face amount value and a cash value that is a savings account with a interest rate that is indexed to the S&P 500 with no risk of loosing your investment.Depending on tax bracket and if your married or single a client could invest 4000-9000 dollars a year in their savings so you can see the value of your life insurance can be as much as you want it to be. Of course most of us will need professional guidance to get there. John Cole Virtual Financial Group  Recruiter/ Manager
    Answered on March 23, 2014
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  2. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    Your life insurance value depends on which life insurance you purchased. If you own a term policy is has no cash value, but it does have a death benefit to your named beneficiary upon your death and your coverage is still in force. If you purchased a cash value permanent policy it has a death benefit the same as the term policy but also a cash value. First look at the type of policy term, whole, universal, mortgage, etc. If it is a cash value plan, look inside the policy for the illustrations pages within the first 10 or 12 pages. There will be a corresponding value based on the year the policy is in force. Most cash value policies do require payments of up to 7 years before a cash value is established to purchase the death benefit.
    Answered on March 23, 2014
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