I'm 50 & when I was a kid, my parents bought a life insurance policy on me. They've been paying on it ever since...well, not really since the policy has matured & the dividends pay for the premiums now.
Well, since I'm a big boy now & have my own life insurance policy, my mom is thinking about cashing in this smaller policy if it makes sense.
Some of this shit though confuses me. Google didn't really help me understand the differences in the following below.
The policy has a net death benefit of around $17k. Does that mean if I die, my kids get $17k?
The policy's guaranteed cash value is $4k...what does this mean?
The Net Cash Value is around $7k....again what does this mean?
The fvcking agent on the policy wont return our calls.
If my mom cancels the policy & cashes this thing in, which figure does she receive before taxes? 4k or 7k?
Well, since I'm a big boy now & have my own life insurance policy, my mom is thinking about cashing in this smaller policy if it makes sense.
Some of this shit though confuses me. Google didn't really help me understand the differences in the following below.
The policy has a net death benefit of around $17k. Does that mean if I die, my kids get $17k?
The policy's guaranteed cash value is $4k...what does this mean?
The Net Cash Value is around $7k....again what does this mean?
The fvcking agent on the policy wont return our calls.
If my mom cancels the policy & cashes this thing in, which figure does she receive before taxes? 4k or 7k?
