I am 32 can i sell my life insurance policy for cash it a $250.000 policy?

Question

I am 32 can i sell my life insurance policy for cash it a $250.000 policy?

Answer 1

save your life insurance for when you get married or have your child thats if your not already and if you are what would you do that for when you have lovedones to care for

Answer 2

if you hadn't said your age, I would have thought you were a young kid (although a kid wouldn't have a life ins. policy) joking around asking that question.  Of course you can't sell your policy for the $250K!!!!!

Answer 3

If you are terminally ill my company does give an advancement, to help. You are going to have to go through you policy and see if that is the case with yours

Answer 4

In another question you answered someone and told them you have worked for 20 insurance companies.

Surely with that kind of experience - you know the answer.

Answer 5

are u retarded?

Answer 6

Oh!  your joking aren't you??????

really.............your joking  right.

Please tell me you are...........

Answer 7

Yes ... you may get a couple hundred bucks for it. Read your contract about cash value if your policy offers it. If not, the answer is NO.

Answer 8

actually, you can sell your policy to what is called a viatical company.  they take ownership of your policy and name themselves as the beneficiary.  while they may give you money for it, it probably won't be anywhere near the $250k that you are covered for.  most companies have what is called an Accelerated Death Benefit rider.  if you are deemed as terminally ill, the insurance will pay you 75% of the death benefit.

Answer 9

No, you cannot sell your policy. Your policy is only for you and your benificiary. What you could do is call your insurance company and see if you can take cash out against the policy. Some companies let you do this.

Answer 10

You would have to have an independent medical evaluation to verify that you will die in the next two years.  Without that, you are too young and healthy, and the policy is too small.

Even if you would qualify, the advisability of selling your policy is questionable because a life policy will always be worth the most to the named beneficiary.  If you have mounting medical bills, check to see if you have an accelerated death benefit.