 Has anyone had trouble with american general life insurance telling you your policy will be will no good soon. |
| american general life told me my policy would be worthless soon and then tried to sell me a new policy with triple the rate and also take all my cash value from my old policy (without telling me).... |
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 *****Is pregnancy considered a 'pre-existing' condition to health insurance agencies? HELP! NEED ANSWERES!? |
We plan to marry so the baby and I can get covered, I just found out last week and dont have an Dr. Appt until the end of Sept. Would it be considered pre existing if we wait til after the Dr. ... |
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 Group health Insurance? What if my emplyer doesn't offer the best group health insurance? |
Hi
In my last job, my employer offered quite good group health insurance but my new employer doesn't.
The cover they are providing does not offer many benefits and would ... |
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 What should i do??? |
| My uncle is pressuring me to get life insurance !!! I dont know if i should get it or not i mean i know it's good for me but i'm only 18!!! He's driving me crazy !!!... |
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| i am a home owner and moving out of the country for 1 year. i have rented my house out to a couple of tenants (same 2 people will occupy the house for the year). i have done this twice in the past ... |
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 Joint car insurance policy with boyfriend? |
| My car insurance company is willing to give me and my boyfriend joint coverage for our vehicles.... but my BF's medical insurance won't cover "co-habitating heterosexual couples"..... |
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 Can a 17 year old get their own medical coverage in California? |
| I'm 17 and live in California. I was wondering if I am legally allowed to sign up for my own medical insurance, like through MediCal or something, and not through my parents. It's a long ... |
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 Health insurance question? |
| I will be 18 next month. I dont live with my parents I havent had insurance for a few months either.. I live with my bf. and I want to get insurance but I am looking for a good insurance that I wont ... |
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| I am no longer covered under my parents insurance and i need one once i get into nursing program.... |
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 How much is fair for employee health insurance contribution? |
| My company used-to pay 100% of employee and family health premium. Now, they're asking the employees to contribute, $125/mo for employee, $400/mo for employee+family. They're giving a 1 ... |
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 Travel Insurance? |
| Hello everyone, I have a friend who wants to visit her son in Canada. She has been quoted £22 for travel insurance, but they say she will have to pay a surcharge of £200. They say this is due to ... |
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 Eligibility on your parents Health Insurance.? |
| can you include someone that is not your family in your parents health insurance? We have United health care. How do i find if the person wanting to be added in the insurance plan is eligible? He is 2... |
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| Cheapest Insurance for me? |
| I am looking to get insured for a 2006 Mitsubishi Evolution. I am 20 years old, and a clean record. I applied for progressive, and for the basic I was quoted $150 per month. But since I have a loan I ... |
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 Do I have to get flood insurance? My mortgage company sent me a letter? |
| I got a letter from my mtg company saying flood coverage is required. Apparently, I'm in Zone A. What can I do about this? I can't afford hundreds in additional premiums - I already have to ... |
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 My insurance pay for my truck but my bank say's i still own 6,000 dollars of interest? |
| well i total my truck but now my bank says that i still need to pay 6000 worth of interest so i dont know what to do im need to get into a car but i still have to pay for my other truck but does this ... |
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Sheron M | What does Term Life Insurance mean with no surrender value? |
If I had a 15 year Term Life Insurance at $100,000. with no surrender value. What would it be at the end of 15 years. Can I collect the full amount on this type of insurance? |
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Financial JUSTICE
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Term life insurance doesn't build any cash value. At the end of the term, you may be able to renew it or convert it into another life policy. If you die during the term, your beneficiary gets $100k. If you cancel the policy at anytime, you get no money back. You may get a refund of excess premiums you paid (depends on how often you pay, such as yearly payment).
I don't know your situation, but $100k coverage seems small. In the area I live, the average face amount my company issue is around $500k (national average is $275k) on husband and wife for a total coverage of $1 million.
Anyway, you might want to recheck if $100k is enough to cover your family's finances and also check if 15 years is all you need to build wealth for retirement. |
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Michael M
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If you die during the 15 year period then it pays $100,000 to your designated benficiary.
If you surrender the policy or quit paying the premiums during the 15 year period then you don't get anything.
If you live to the end of the 15 year period then you also don't get anything and your coverage will end unless your policy has some kind of automatic renewal period.
Term life insurance is usually relatively inexpensive death protection without any investment portion for a set period of time. |
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src50
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No. If the term (15 years in this case) expires, the insurance lapses. You don't collect anything. You are confusing term insurance with whole life.
(See Yahoo Finance, "Personal Finance") |
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Gordon Shumway
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Term insurance should NEVER have a surrender value because if u cancel you don't lose money. You're paying ur premium every month and that's it. In cash value insurance surrender values do apply because u agree to overpay ur premium in order for the company to create a separate savings account for you. If u cancel the policy u surrender a certain amount of the money in that savings to the company. Depending on how long u have had the policy. U can typically borrow from this saving account at 8%. Yes, that's right they charge u to use you OWN money.
Your much better off buying term and then saving money yourself. Prefferable through mutual funds. As they have a much better rate of return than the cash value accounts.
Also another benefit of term is that u may not have the need of insurance all the way to age 100. (if you've planned finacially) therefore u only pay for a period of time and youre not paying insurance premiums until 100 (or till u die)
Anyway, sorry this is so long but in short Term is better. Make sure someone is not trying to sell u cash value and disguising it at term. TERM insurance has NO savings added to it. You're only paying the cost of ur monthly premium. I don't know which company ur buying through but for 100,000. U should not be paying more than $50 (hopefully less than that even) but if its a lot more than that I'd make sure ur not getting roped into some cash value. |
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Steve S
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The only thing that term insurance pays is a death benefit if you die, There is no cash value, So long as you make the payments you have a policy but the moment you quite, the policy done. Its kind of like renting the policy. Hope this helps. |
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Art M
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Answer - No. If you don't die before the term is up, you get zero. Term insurance is just that - an insurance in force during the contract term. Outside the duration of the term, you don't have insurance nor can collect anything because it has no cash surrender value. |
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nkthen
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No value at all. Term Life Insurance will have no cash value at all.
BUT, remember that the amount covered is HIGHER than whole life insurance.
If you have a term insurance, stick with it. |
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