When is cashing life insurance in for the surrender value a good idea?
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Written on: 12.11.2009 [00:28]
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Noah
Noah
Topic creator
Posts: 5
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I am facing real financial difficulties at the moment, and I need as much money as possible as soon as possible. Should I think about cashing life insurance and other policies in, or am I shooting myself in the foot for the future? |
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Written on: 15.11.2009 [11:29]
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Olli
Olli
Posts: 4
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How desperate are you? Cashing in any kind of insurance policy is usually a guarantee you'll lose a significant chunk of money and put yourself at risk if something happens and you need financial support... On the other hand, if you're young and still have enough time to organise future security when your current problems are over it might be an option. Or if your situation is so desperate that you'll go bankrupt without the cash injection you may have to take the risk and get your money out. Can you give out any more details that might help with giving advice? |
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