How can I calculate my life insurance surrender value?

Author	Message
Written on: 05.11.2009 [10:38]
Zaki Zaki Topic creator Posts: 5	Thanks to the recent financial crisis my husband and I are trying to scrape as much money together as possible to secure our home. Does anyone know how to calculate a life insurance surrender or cash surrender value?
Written on: 09.11.2009 [11:13]
Jackson Jackson Posts: 4	How long is a piece of string? Most life insurance surrender values are very low and a very poor option... but I can understand you considering every avenue if you're desperate to make home repayments! As a basic rule of thumb as far as I can tell most insurance policies have a surrender value of around ten percent of their face value, so for a policy worth 100,000 you might get around 10,000 as a cash surrender. But to be honest it's impossible to know how much you'll get without talking to your insurance company.
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Written on: 09.11.2009 [14:13]
Sharp Sharp Posts: 3	you to have a look online for some of the surrender value calculators, they might at least be able to give you a general overview of how much you are looking at.
Written on: 09.11.2009 [15:02]
Watt Watt Posts: 1	How about selling your life insurance to the secondary market? There are companies out there that will offer you a lot more than the 10% you will probably get as a cash value. Have a look online for viatical settlements (this is what its called when you sell your life insurance to another company.) The way it works is that they pay you a certain amount for your insurance policy and then when you die they get the total policy amount back thus make money off your death, a little grim granted but at least you will get a lot more than surrendering your policy.
Written on: 17.11.2009 [10:11]
Zaki Zaki Topic creator Posts: 5	Thanks everyone!!!! But Watt, will the viatical settlements still be as high at the moment? Are companies still willing to pay for such policies or will they try and get as much money out of me as possible? If so, am I able to negotiate with them or do they have one offer and that is it?