Can a policy holder use the cash value to pay a premium?

Question

Can a policy holder use the cash value to pay a premium?

Answer 1

Yes, normally you can do this. It's called premium offset. Call your agent.

Answer 2

Generally speaking - yes.  Call the company for exact details.

Answer 3

As long as you have the cash value to pay it, it usually happens anyways.  After so many years, you are paying less into that policy than the actual insurance costs and they pull the difference from the cash surrender value.  If you stop paying now, it should be listed on your statement how long the policy will be in force till it lapses.

Check your policy and talk with your agent.  And ask your agent what they put on their family to see if what they sold you was good enough for theirs. :)

Answer 4

Sometimes, but not always.  You will need to call the company or the agent and ask.