Gakline6
My husband has a $100,000 whole life insurance policy his parents started for him when he was younger, perhaps 19-20 years ago. The interest earned per year is enough to cover the annual premium. The current cash value is around $14,500. We have no debt besides a mortgage, rental mortgage and small student loan.
Our biggest frustration with the company is the lack of information. We do not receive quarterly statements with the balance or much information at all. We looked at the rate of return and we'd be better off in a money market account.
I am pregnant and due in 2 months and we were wondering, should we cash the policy, pay the taxes, stash the cash, and buy term life insurance?
Our biggest frustration with the company is the lack of information. We do not receive quarterly statements with the balance or much information at all. We looked at the rate of return and we'd be better off in a money market account.
I am pregnant and due in 2 months and we were wondering, should we cash the policy, pay the taxes, stash the cash, and buy term life insurance?