My husband had to cancel his life insurance. Can he get some of his money back?
Total Comments: 1
Posted: Wed Nov 11, 2009 10:15 pm Post Subject:
Depending on the type of policy and how he's paid his premiums, yes he probably can.
For a start, if he's paid an annual premium and canceled part way through the year, he should get a partial refund of his premium.
Secondly, some life insurance policies have a cash surrender value which gives you back some of the premiums you have paid to date, somewhat like a savings account, though what you get back will be significantly less than you total premiums paid over the years.
as far as I know there isn't a hard and fast rule ont his, it depends on your individual policy.
Posted: Wed Nov 11, 2009 10:15 pm Post Subject:
Depending on the type of policy and how he's paid his premiums, yes he probably can.
For a start, if he's paid an annual premium and canceled part way through the year, he should get a partial refund of his premium.
Secondly, some life insurance policies have a cash surrender value which gives you back some of the premiums you have paid to date, somewhat like a savings account, though what you get back will be significantly less than you total premiums paid over the years.
as far as I know there isn't a hard and fast rule ont his, it depends on your individual policy.
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