AboutWillard R. Brumbaugh, LUTCF, CSFP Expertise I can handle questions concerning life insurance, it`s tax implications, how to determine what is appropriate, and how it fits in one`s estate and retirement planning.
Experience For 2 1/2 years I was an expert on AskMe.com, where for most of that time I was ranked #1. I have been a moderator (instructor) for the Life Underwriters Training Council. I have been licensed since 1969.
Organizations I belong to: National Association of Insurance and Financial Advisors - California
and the Inland Empire Estate Planning Council.
I hold the professional designation of Life Underwriters Training Council Fellow.
Question Hi, I was looking on the internet about cash value of an old life policy of mine and want to find out if there is any value left. This policy from American National was written in 1957! Sum 1,500. It says Limited life policy premium paying period 20 years - on the order form from my father, it says plan=20 payment life. Was most likely paid up 50 years ago. Is there anything here to collect? Thank you.
Answer Dear Sylvia,
On the basis of the information given it would appear that there is value in this policy. You need to find out if the premiums were actually paid during that period.
American National has had two types of Whole Life policies. Some have generated dividends; some have not. Do you know whether the policy states that it is a Participating policy?
