I found an insurance policy.in 1937 it was worth $1,000.john hancock said it was worth $2-$3000.?

Question

what a rip off. after almost 70 yrs .it seems to me that should be a lot more than $2-$3,000.these insurance co.s are realy something.does any one know what to do ..i am going to see them to day does any one have any idea how much it should be worth.. i do not trust these ins co,s get back to me please.. it seems to me that $20,000-30,000 or around that after 69yrs.dont you think ...charlie f.

Answer 1

A couple thousand dollars was a fair amount of money in 1937.  You are experiencing a purchasing power loss.  That's one reason folks should review their coverage periodically.

The bight side is that in 1937, JH was a mutual company and has since de-mutualized.  That means that the owner of the policy (whoever that was when they de-mutualized) probably has some stock certificates.

Answer 2

They are probably right. Assuming no one has paid on the premium on the policy for a number of years, the dividends were paying for it.

Answer 3

It may have more to do with no one paying on the claim.  

It may be have stop increasing after monthly payment stoped.