Some life insurance policies give you the option to either cash in your policy or continue paying the premiums. Sometimes, it is more beneficial for the plan holder to settle for a cash settlement instead of continuously paying the monthly payments. Some questions to consider would be whether anybody (besides yourself) would benefit from the life insurance policy, whether you have enough money to shell out out in the event of medical problems and also, whether you can afford to personally finance your stay in a nursing home, if the need arises in the future, and lastly, whether you can shoulder the expenses of your last days without any help from your insurance policy.

This entry was posted on Saturday, May 3rd, 2008 at 10:51 am and is filed under Life Insurance Info. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.