InsuranceIsLife
Expert
- 73
I have alot of small paid policies...anything I can do with them? All old paid up whole life policies where the cash value is almost equal to the death benefit - no paid up add or dividend options so my objective is to move these 10k Paid Up whole life policies essentially 1035'd into a GI or similar. (Ex. 70yo has Paid Up 10k DB Whole Live, $8,960 in cash value). Some larger some smaller
Is there any product in the market you can buy a paid up policy using the exchange values - basically putting a lump sum of 8.9k to purchase a Guaranteed 14k policy...
Thanks in advance. As a 13 year vet and CLU, I should know this.
Is there any product in the market you can buy a paid up policy using the exchange values - basically putting a lump sum of 8.9k to purchase a Guaranteed 14k policy...
Thanks in advance. As a 13 year vet and CLU, I should know this.