universal life insurance policy?
Can someone point in the direction of finding a universal life insurance policy for a 74 yr female.
Public Comments
- ok, just about ANY independent agent can help you, but you KNOW you're going to pay pretty darned close to face value each year, right? And I have NO idea why you're looking for the features of "universal life" as she likely won't live long enough to do more than collect the face value. BUT, if you throw enough money at the situation, you can find SOMEONE willing to sell you the product. Assuming you want $250,000 of coverage, expect your premium to run you between $150,000 and $250,000 a year. If she's in BAD health, expect it to run around $275,000. But look at the bright side - you'll avoid estate taxes.
- Are you saying that this life insurance policy is lost and you can't find it? If this person is your mom or grandma, you maybe able to check her bank account records to see if she been paying her life insurance premiums. Some way or another, she has to pay her premiums. If she hasn't been paying her premiums, the policy may of lapse or there isn't much face value on it because the cash value is being used to pay the premiums. If you know the name of the insurance company, you can call customer service for help. They should know what to do if a life insurance policy is lost.
- Most agents can help you with this question. There are a lot of good options out there for a 74 year old. In fact, the rate of return on any premiums paid gets better and better the older the insured is! I would be happy to help depending on your state. Check out my bio for more information.
