Did Your Parents Give you a Whole Life Insurance Policy? Here's What to do With it.
Posted March 26, 2009 - 16:41 by Nora Dunn
For many of us 30-somethings (and some of us both younger and older), our parents took out whole life insurance policies for us when we were kids. When we became income-earners and were deemed responsible enough, a ceremonious transfer of papers occurred, where we were told gravely that this policy is to be kept paid up, as it will be worth a lot of money. Sometime.
What is this insurance all about? Why will it be worth a lot of money? Should I just cancel it and take the cash? Or is there something else I don’t know?
If you have any of these questions, read on. You may discover that your whole life insurance policy is worth much more than you thought.
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