My father is 81 and retired from the marines. When he retired he kept his $10,000 life insurance policy in force. My mother has been paying $600.00 a year in premium for 38 years. She has paid 3 times what the face amount of the policy is. Is there any cash value? $600.00 a year for 38 years is a huge premium for a $10,000 benefit!!! can anyone give me a little advice or tell me where to get this information??I need some advice on my fathers veterans life insurance!!!?
Most likely, there is cash value, and it's also highly possible that all the extra paid in, has increased the face value of the policy.
But he (or she) should have been receiving a statement once a year, with that bill, showing the current cash value, and current face value (death benefit) of the policy.I need some advice on my fathers veterans life insurance!!!?
Are you speaking about Veteran's Group Life Insurance (VGLI)? Go to the VGLI website.
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