Basic life insurance question

[Paul Mallory]

Hello, I’m new to all of this so forgive my cluelessness. My father passed away and I am the beneficiary of his life insurance. It is an old policy that was started in the 80s. I don’t know much about what type of policy it is other than it’s old. My question is just what the amount is that I will receive once I surrender the policy based on these figures I received….


Basic Cash Value: $ 18,099.27
Rider Cash Value: $ 5,957.15
Premium Refund: $ 0.00
Total Gross Cash Value: $ 22,855.96
Total Loan: $ 1,200.46
Net Cash Value: $ 22,855.96

Basic Death Benefit: $ 52,719.00
Rider Death Benefit: $ 0.00
Basic Paid Up Addition: $ 14,564.64
Gross Death Benefit: $ 67,283.64
Total Loan: $ 1,200.46
Net Death Benefit: $ 66,083.18

 

[WinoBlues]

Net death benefit

 

[WinoBlues]

Hello, I’m new to all of this so forgive my cluelessness. My father passed away and I am the beneficiary of his life insurance. It is an old policy that was started in the 80s. I don’t know much about what type of policy it is other than it’s old. My question is just what the amount is that I will receive once I surrender the policy based on these figures I received….


Basic Cash Value: $ 18,099.27
Rider Cash Value: $ 5,957.15
Premium Refund: $ 0.00
Total Gross Cash Value: $ 22,855.96
Total Loan: $ 1,200.46
Net Cash Value: $ 22,855.96

Basic Death Benefit: $ 52,719.00
Rider Death Benefit: $ 0.00
Basic Paid Up Addition: $ 14,564.64
Gross Death Benefit: $ 67,283.64
Total Loan: $ 1,200.46
Net Death Benefit: $ 66,083.18

Your Dad did a good job on that policy

 

[Allen Trent]

Hello, I’m new to all of this so forgive my cluelessness. My father passed away and I am the beneficiary of his life insurance. It is an old policy that was started in the 80s. I don’t know much about what type of policy it is other than it’s old. My question is just what the amount is that I will receive once I surrender the policy based on these figures I received….


Basic Cash Value: $ 18,099.27
Rider Cash Value: $ 5,957.15
Premium Refund: $ 0.00
Total Gross Cash Value: $ 22,855.96
Total Loan: $ 1,200.46
Net Cash Value: $ 22,855.96

Basic Death Benefit: $ 52,719.00
Rider Death Benefit: $ 0.00
Basic Paid Up Addition: $ 14,564.64
Gross Death Benefit: $ 67,283.64
Total Loan: $ 1,200.46
Net Death Benefit: $ 66,083.18

66,083 plus some small interest from date of death until they issue check.

 

[romeroaaron]

Net Death Benefit: $ 66,083.18

My condolences. The net death benefit is what you will receive. And no, it is not taxed.