What if you want to surrender your life insurance policy?

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PostPosted: Wed Jan 13, 2016 1:51 pm   Post subject: policy cancellation  

hi i just want to find out if a person cancel a policy must she/he can receive cashback ?


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motlalepule makola
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PostPosted: Thu Feb 04, 2016 3:40 pm   Post subject: Surrender value of policy no 416616097  

What will be the surrender value of policy no 416616097 at the end of march 2016


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Ptatri Dasgupta
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PostPosted: Mon Feb 15, 2016 6:13 am   Post subject:   

$0 in the United States. Have to contact the insurance company in India for a better answer. We are not your insurance company.



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PostPosted: Thu Mar 24, 2016 5:02 pm   Post subject: Surrendering a life insurance policy  

I am attempting to surrender a $2000 whole life insurance policy that my dad took out on me when I was a kid. Total premiums paid in was more than what the surrender value is. I have filled the forms from American General 3 times and have plainly noted I elect not have any fed or state taxes withheld. American General claims I need to submit a Georgia specific "opt out form" for this election. What is the form and where can I obtain it?


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PostPosted: Mon Mar 28, 2016 1:14 am   Post subject:   

If American General claims there is a form you need to complete. they need to supply it to you. Ask them for it, or contact a local American General agent to get it for you. If premiums paid are more than the surrender value, there is absolutely no tax liability.



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PostPosted: Wed Mar 30, 2016 10:41 pm   Post subject:   

In-law is 94 year old & has a life insurance policy. The death benefit is $10,000. Premiums are $600. a year.

Has already paid $27,000. over the years. Is there any way premiums can stop since premiums paid are almost 3 times the potential benefit and still retain benefit to heirs? This is a Met Life insurance policy. Not sure what type of policy it is (whole life, universal,etc)


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dans123
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PostPosted: Fri Apr 15, 2016 3:55 pm   Post subject:   

Quote:
Not sure what type of policy it is (whole life, universal,etc)
When you have an answer to this statement, contact me. Until then, you have no idea what stopping the premium payments will mean. Just because the stated death benefit is $10,000 doesn't mean the policy is worth more or less.



Your math, however, could be entirely faulty. It would take 45 years at $600 per year to equal $27,000. Universal life insurance hasn't been around quite as long as that, so if this is a cash value policy, the premiums are either too high or the cash value is much higher than the face amount of insurance.



Get your facts before you make any dumb decisions for your "in-law"..


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PostPosted: Fri Apr 29, 2016 10:41 pm   Post subject: When it is good to surrender a policy  

We have life insurance policy in affect until my husband turns 70. He is now 65. Should we continue, or should we consider surrendering the policy? Is there a checklist of questions to assist us in our decision?


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PostPosted: Thu May 05, 2016 3:19 pm   Post subject: reduced paid up insurance  

my husband is 88 years old still paying 32.50/mo on a

$5640 policy thinking of taking reduced paid $4640 been

paying for 24 years sbli insurance good idea no more payments and will still get if ever dividends


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PostPosted: Thu Aug 18, 2016 7:03 pm   Post subject: Surrender Policy  

Life insurance surrenderind


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Edward Gerald Orsak
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PostPosted: Tue Oct 18, 2016 4:47 pm   Post subject: cancelling life policy over 50  

how do i cancel me and my wife's over 50 policy i have canceld them in the bank what else do i need to do


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wedady
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PostPosted: Fri Dec 09, 2016 12:53 am   Post subject: surrender policy  

I need to surrender policy pending divorce, needmoney


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john tedrow
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PostPosted: Mon Dec 19, 2016 12:12 am   Post subject: how to my policy surrender  

Please help me how can I surrender my life policy


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Tarani Deka
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PostPosted: Fri Feb 03, 2017 4:20 am   Post subject: policy break  

Installment break


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shanu saini
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PostPosted: Mon Feb 27, 2017 7:21 pm   Post subject: insurance premiums  

I have a $10,000 20 pay life insurance policy I've had for 10 years. After speaking with my insurance company I was advised that I have already paid over $11,000. I plan on being around for a while longer so what are my options? My insurance company gave me no options and I don't want to keep paying as the face amount is alrerady less than premiums already paid.


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