My Mother Is 79 Years Old And Had A Whole Life Insurance?
Posted January 17, 2010 – 4:21 pm in: term life insurancePolicy with Globe Life for over 20 years. I enquired today via email with Globe Life about taking out a Life Insurance policy on myself and was told this Policy expires at age 80. I said so what you are saying is really this Insurance called Whole or Permanent Life Insurance is really Term Life Insurance and you can pay into it all those years and if you live past 80, it terminates.. Did you Know???
Tags: Insurance, Life, Mother, Whole, Years
5 Comments
It would help if you provide a link to the Global Life website that has information about that policy.
The policy may be an endowment at age 80. It may be simular to whole life but ends at age 80.
That would mean when your mother turns 80 the insurance company will pay her the death benefit because she out lived the policy. Contact the insurance company to see if they will be sending you mom her check and when.
If you have more questions, then contact the Department of Insurance in your state for help. A link is below. Just click on your state.
ALL whole life insurance expires, at a certain age. That age varies.
Once they hit that age, the policy usually pays out face value. If your mom doesn’t want to spend it, she can use it to prepay her funeral.
Do you have any original documentation for this policy? Any old papers that she signed? If not, contact the state insurance commission. Whole life insurance lasts one’s “whole life”, or until age 100.
I never heard of sucj a thing, i think you shoud contact the Attorny generals office because if what your saying is true then countless thousands of people have been scamed.
Then it probably is not in fact a “whole life” policy.