I am a 30 year old female in perfect health, I purchased a w

by roxibury15 » Thu Sep 09, 2010 07:56 pm

I am a 30 year old female in perfect health, I purchased a whole life policy for $250K for $105 a month for 30 years. My question is at the end of 30 years, will I get what I have paid into it or will I get paid what the policy has accrued through interest?

Total Comments: 3

Posted: Fri Sep 10, 2010 09:44 am Post Subject:

WL policies (in my belief) generate a cash value till they mature. So, you're bound to get more. If anything happens to you within the policy period, then your beneficiary will get the Sum assured as death benefit. This death benefit is separate from the cash value. Now, even WL policies are of different types, and some of them will offer returns on the basis of the market condition. So, all you've to do is to go through the terms and conditions of your policy.

Posted: Fri Sep 10, 2010 09:52 am Post Subject:

There are a few other aspects that needs careful consideration. At times, you may take a loan against your policy. It's some thing that will affect your returns. Read all the terms as you go through your policy papers - read even the exclusions very carefully!

Posted: Fri Sep 10, 2010 11:57 am Post Subject:

Also if it's an annuity policy it could be a bit different.

Add your comment

Image CAPTCHA
Enter the characters shown in the image.