Solvingapuzzle86
New Member
- 2
My father had a VAR Life insurance policy and would like to know what kind of options would be available for him. Example:
Contract Value $100,000
Surrender Charge 0
Cash Value $100,000
Policy Adj. Repayment $80,000
Cash Value Less
Policy Adj. Repayment $20,000
He is currently getting charged like $350 a month for Cost of Insurance
Investment portion is in a Conservatively managed fund
He has not made any physical payments of the insurance portion, but it looks like the $80,000 is going to be accessed as repayment to company, yet the investment portion of has been paying for the cost of insurance with a positive monthly increase for the last 35 years.
So my question would be since my Mom was to inherit this policy, what can my father expect to utilize the insurance policy for his benefit. Such as, restructuring the VAR Life into a vehicle for supplementing his income with the same insurance benefit. Please looking for some direction and I know it is probably not explained correctly in this format. He is 80 years old.
Contract Value $100,000
Surrender Charge 0
Cash Value $100,000
Policy Adj. Repayment $80,000
Cash Value Less
Policy Adj. Repayment $20,000
He is currently getting charged like $350 a month for Cost of Insurance
Investment portion is in a Conservatively managed fund
He has not made any physical payments of the insurance portion, but it looks like the $80,000 is going to be accessed as repayment to company, yet the investment portion of has been paying for the cost of insurance with a positive monthly increase for the last 35 years.
So my question would be since my Mom was to inherit this policy, what can my father expect to utilize the insurance policy for his benefit. Such as, restructuring the VAR Life into a vehicle for supplementing his income with the same insurance benefit. Please looking for some direction and I know it is probably not explained correctly in this format. He is 80 years old.
