The 12th Installment of the I Need Money Right Now series will explain how to get money from your life insurance policy. If you have a whole of life or universal policy you'll be able to cash this policy in. Many people use these Whole of Life Policies as investment vehicles with protection just in case they need the money urgently.
Before I go on I would like to advise all readers to visit the USA.Gov website if you need urgent financial assistance. You can get financial help from the Government if you're on a low income or support a large family. if you're eligible you could apply for mortgage assistance, rental assistance and even get advice on loan consolidation and debt management.
I Need Money Right Now - Sell Your Life Insurance Policy
A whole of life policy or universal policy is a life insurance policy where you pay a premium forever and money is paid on death. There is no term for a Whole of life policy and this will run until you die. If you have a whole of life policy then this will have monetary value if you decide to cash it in. Many people get term insurance and whole of life insurance mixed up, it is important to remember that term insurance runs for a number of years and has no cash in value while whole of life runs until death and has cash in value.
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Depending on how long you've had your policy you could cash in anything between 10% to 70% of the death benefits. If you've been paying the premium for 40 years and are in your twilight years you could cash the policy for 70%, if you've just started paying premiums then the cash in value will be much low.Also it's worth noting that the cash in value rises if your unhealthy, this is because insurance companies believe that your mortality chances are higher, this is usually worked out by an actuary. The bottom line is if you're unhealthy and have made a significant contribution towards your policy you could get 80%, possibly more.
The first step to take is to check the insurance policy thoroughly to determine what kind of policy it is. If the policy is full of insurance jargon then call the company up to find out.
If the policy is indeed whole of life you need to ask the insurance company for a cash in value. You should also call other insurance companies who purchase whole of life policies to see if they're prepared to payer a higher amount. Explain any health issues you have and state your need for the money, some insurance companies pay slightly more if the life insured is experiencing financial hardship.
The cash in process could take up to 2 weeks depending on your policy and you should check the entire market for the best possible price. You can increase the cash in value by stating health problems. Before you decide make sure you weigh the pros and cons of cashing in. You should also consider if you have enough money set aside for love ones to make provisions after death. Good Luck
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I Need Money Right Now Resources
Life Insurance Settlement Association
Get Cash From Your Life Insurance Policy
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ReplyDeleteI live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via patrickharvey12@yahoo.com and i want you all to pray for this man for me.
Hello,
ReplyDeleteI live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via patrickharvey12@yahoo.com and i want you all to pray for this man for me.
Hello,
ReplyDeleteI live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via patrickharvey12@yahoo.com and i want you all to pray for this man for me.
Hello,
ReplyDeleteI live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via patrickharvey12@yahoo.com and i want you all to pray for this man for me.
Hello,
ReplyDeleteI live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via patrickharvey12@yahoo.com and i want you all to pray for this man for me.