Old Life Insurance Policy Worth Anything at Life

Old Life Insurance Policy Worth Anything. In most cases the answer is yes, a lot more. Just as your closet can accumulate a collection of old ties and handbags, you can accumulate a number of life insurance policies over time.

To check on the worth of old life insurance policies: So, if you want to leave a friend $100,000, for example, it is more efficient to bequeath $100,000 through an insurance policy held in an irrevocable trust, thereby avoiding the federal and state estate taxes. If playback doesn't begin shortly, try restarting your device.

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A life insurance policy on someone with no earnings or someone with no dependent beneficiaries can be a waste of money. Check the kind of insurance the policy represents. The document was issued in two or three copies that were kept by all the parties involved in the contract. Scroll down to learn more.