Do I Receive The Cash Value Or Death Benefit Value When My Life Insurance Policy Endows At Age 65?
Posted October 2, 2009 – 4:24 pm in: structured settlements FAQI bought a life insurance police 32 years ago. It endows when I reach age 65. They list a “cash value” and a “death benefit”. Which value do I receive when I reach 65? (please no lectures, I was only 19 at the time)_
Tags: Benefit, Cash, Death, Insurance, Life, Policy, Receive, Value, When
4 Comments
An endowment should have a surrender value equal to the face value at 65. Whole life would go to age 100.
Upon endowment, it should be equal to the death benefit minus any loans. Frankly, you would have more money if you were to switch to a term product and invest the cash value. You would receive a much higher rate of return (9%-12% vs 0-4%).
Not a lecture, just a piece of advice.
A death benefit pays if you die. Read your policy regarding cash value.
You would get the cash value plus any dividends minus any loans if you have them.