S
Summerbreeze
Guest
What is the name of your state? Pennsylvania
I would like to know if there is ever an instance where one has to keep paying on a life insurance policy AFTER they have paid more than the face value of the policy.
My mother has a $5000.00 life insurance policy which used to be my father's. When he died, my mother was paid $5000.00 , but then was allowed to keep the policy switching it over to herself.
She has been paying into it since 1986. From 1986 until 1996, she paid 40 dollars per month. That comes to 4800 dollars right there. Then from 1996 until present , she has and is continuing to pay 60 dollars per month. That comes to over 4000 dollars in addition to the first 4800.
Shouldn't she have stopped paying when she paid in the 5000 face value?
Thank you,
Summer
I would like to know if there is ever an instance where one has to keep paying on a life insurance policy AFTER they have paid more than the face value of the policy.
My mother has a $5000.00 life insurance policy which used to be my father's. When he died, my mother was paid $5000.00 , but then was allowed to keep the policy switching it over to herself.
She has been paying into it since 1986. From 1986 until 1996, she paid 40 dollars per month. That comes to 4800 dollars right there. Then from 1996 until present , she has and is continuing to pay 60 dollars per month. That comes to over 4000 dollars in addition to the first 4800.
Shouldn't she have stopped paying when she paid in the 5000 face value?
Thank you,
Summer