This is not term . I was told I can borrow the policy value of the 00.00 since I had this ,000 for last ten years. If I die of nature causes my policy will pay ,000.

 

  • mbrcatz 9:04 am on March 10, 2010

    You can borrow up to the CASH VALUE less a fee.

    If you die, the borrowed amount is SUBTRACTED from the payout, not added to it – so it would pay out about $47,000 (fees and interest).

  • Benjamin W 9:05 am on March 10, 2010

    Sure. It’s best to ask a friend to shoot you in the head with your own gun though. Make sure they wipe off their finger prints, and are not known to be with you that night. Have them rob your place a little.

  • v b 9:05 am on March 10, 2010

    Search the internet for "life settlements" and see what they will offer.

    If you are young and healty, they won’t pay much.

  • Insurance Pickle.com 9:05 am on March 10, 2010

    Life settlements pay for terminal illness and although extreme mental health issues (like this one) could lead to a terminal end of life, it’s still not going to work. You can borrow a percentage of the cash value of the policy and the amount you borrow will just lower the death benefit by that amount when you’re gone. It wouldn’t make a difference as the policy would likely pay anyway. However, I’d suggest borrowing the money and going to seek some professional help…joking or not you probably could use the help.

  • car253 9:05 am on March 10, 2010

    Why do you think the death benefit will be $52,000. I doubt it. There are a few exceptions but most the time the policy will pay only $50,000.

    However, suicide is not an option. Get some professional help and speak to your insurance agent about it.