How do i find out about this policy?

Question

My grandmother who passed away six months ago,several years ago bought a policy in my name,where she is the beneficary.The lady who originally sold the policy told me it doesnt matter how much the premiums are that were paid,it is supposed to be earning interest,since it has not been touched,and the policy is paid in full.I remmeber recieving a letter to me several years ago from the insurance company when i went thru a legal name change that they had changed it in their records.Because the estate is about to be probated i have to move and need money to do that,Thanks!

Answer 1

You grandmother owned a policy insuring your life where she is the beneficiary??  If so, you will have to go through her personal and financial records to find it.

Answer 2

OK, you likely can't cash this in - only the policy OWNER can cash it in.  That's the person who pays the premiums, not the person who's insured.

You need to talk to the executor of her estate, to find that paperwork, to find the company name.  

If it makes you feel better, if you cash it out, you do NOT get the "death benefit".  You get a fraction of what was paid in, in premiums.  Interest on these policies doesn't usually even keep up with inflation.  If the policy is a $10,000 policy, likely the cash out value is well under $1,000.

Answer 3

Can you still reach the lady that originally sold it? She's the best source or call the companies' 800 # they know their products and should be able to help you.

Good luck