$10,00 Insurance policy....can I cash It(Mystery)?

Question

Hi!

I Just turned 18 on July 23 & my mom died back in 2001 & she left me an $10,000 insurance policy(all the premiums have been paid), and my grandmother has it locked away & its a whole bunch of papers & stuff. My question is can I cash & get the $10,000 or will I just get some of it & if so how much. I need a car..soo bad...lol

If the amount isn't no where near $10,000 or so small that there is no benefit...could I get a cash advance or a loan or something off of the policy? I have Reliable Life Insurance & I live in St.Louis, MO

Answer 1

For a moment I thought you meant that the policy was on the life of your mom with you as the beneficiary.  In that case you would need to

provide a death certificate and fill in a claim form ...

I think you mean that it is on your life?  And you are wondering how much money you can get from the plan?  That depends on several factors.  You may only have a few hundred dollars in the plan if it is just a few years old.  If you are the owner of the policy you have the right to contact Reliable Life directly to get the answer.

If your grandmother is the owner it is up to her.  You have no right to it.  Given your age your grandmother is likely the owner and you will have to discuss this with her.

Getting $$ out of the policy will likely require a loan.  Or possibly a complete cancellation of the policy.  You'll have to ask yourself if this is the best way to get at the money required for a car.  Is that the best use of this policy?

I hope that helps a bit.  No one other than Reliable Life can tell you exactly what the policy is worth ...

Good luck

Answer 2

you are supposed to collect as much as resource as you can by searching the relevant keyword in search engine,if you have good luck there,then your problem solved.however,if you could not find the fitful answer by doing that,here is the resource i prefered.http://car-insurance.freetipsonline.info...

Answer 3

are you the beneficiary? you should call the ins. co.and see if they can help. possibly send you a copy of policy. just keep in mind most ins. companys and ins. agents are snakes.thats why i got out of the business.