Life & Health Insurance/life insurance


Hello I have a life insurance policy.   And i  have taken a loan out that is 2,400 dollars. Because at the time   had a  lot job loss And   hardships This is how much the loan was to start with I pay 8.05 a month for my insurance I just know I will not be able to pay the loan back Because having  hard time finacially I feel like i will  be paying on this  the rest of my life My question Is do I need life insurance should i  close the claim   If i  close the claim I will get 600.00 cash value  Back I believe this what i need to do Thank you Carolyn

I'm not sure I completely understand the question, however it seems clear that you are struggling to pay for the life insurance, while the loan on your policy continues to increase.

Unfortunately, I do not know enough about your situation (your income, family/dependents, health, etc) in order to accurately answer you as to whether you need life insurance, so it is hard to properly answer your question with the information provided.

Michael Feinberg

Life & Health Insurance

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Michael Feinberg, ChFC


I am the Executive Director of Synergy Financial Services, focusing on life, disability and long term care insurance nationwide. I do not typically handle health-insurance related questions since they are typically local-based but I am always happy to try to answer any questions you may have on any of these topics.


16 years in the insurance business.

Chartered Financial Consultant

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