Answers.com > Wiki Answers > Categories > Business & Finance > Investing and Financial Markets > Can you get back the money paid for insurance premiums?

Can you get back the money paid for insurance premiums?

Answer:

Answer

Gloria,
Although it will depend on the specific policies, you probably have accumulated cash value. In some cases, having cash value enables you to:
Cancel the policy and receive the cash value as a lump sum: the surrender cash value.
Stop paying premiums and use it to continue your current policy for a specific time.
Withdraw part of the cash value in the form of a policy loan.
You should consult your policy agreements and speak to your agent(s).
Chris

Note: There are comments associated with this question. See the discussion page to add to the conversation.

First answer by Penny-stock. Last edit by Irmscher. Contributor trust: 0 [recommend contributor ]. Question popularity: 225 [recommend question].

[report abuse]

Sources and related links: [Edit]

News, Articles & Research Analysis of Commodity trading, forex trading & Stock trading

Can you answer these Investing and Financial Markets questions?

	What is the nationality of Orhan Osmansoy?	Answer it!
	What are the Advantages and disadvantages of Direct Debits?	Answer it!
	Who owns enterprise rent a car?	Answer it!
	Is All American Pet Company publicly traded?	Answer it!
	When did stock market start operating and what day and month?	Answer it!

Relevant answers:

Why does the insurance company get paid back the money Isn't that why we pay our premiums?
You pay premiums because insurance companies are a business and they are there to make a profit. Also, the premiums you pay go into a pool of money so the insurance company can pay out claims when...
If you cancel the insurance will you get your money back?
The answer depends upon how long the policy has been in force. There may be a right to a refind of premium paid, called an "unearned premium". However, it exists for only a finite period of time and...
Can insurance premium be raised after it is paid?
Yes, they certainly can. If the insurer finds additional information on your driving record such as undisclosed tickets or accidents and/or other risk factors such as undisclosed drivers or work...
Where that money goes that is paid for life insurance?
obama's pay check where else?!?!?!?
Does a life insurance have to prove that premiums were not paid?
No. How can they prove that nothing was received, if nothing was received? The person who was supposed to pay for the policy should have cancelled checks or bank statements indicating that premiums...