Hello everybody. My name is Alice and I was wondering if you could tell me something about life insurance. Do I lose cash accumulation value by cancelling the whole life insurance? I am thinking about cancelling my policy so I'm interested about financial effects of that. Thank you for your posts.
Hello to you too, Alice. What you want to do is to surrender your policy. Whether you'll loose cash accumulation or not depends on the policy of the company. In most of the cases, you won't get the entire amount. There is usualy some decrease. What you have to do is talk to your insurance agent. He'll provide you with all the details regarding policy surrender. That would be all from me. I hope that you will find this post useful. Take care!
