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Recently I discovered in 2003, my dad bought Whole Life Insurance from Royal Neighbors of America for me. I was not aware of this until now, and I am having trouble deciding whether to keep it or to take the money out to reinvest into something else, because I barely understand what the terms mean.

The information:

Plan: 20 payment life

Annual Premium: $684.00

Face Amount: $100,000

Current Death Benefit: $100,927.16

Cash Surrender Value: $10,724.76

Current Dividend: 2016 dividend earned is $36.61

This dividend has been used to purchase additional paid-up insurance of $225.15. Current total additional paid-up insurance is $927.16.

Is this a good investment or something to keep, considering whatever rate of return this is? Or should it be invested somewhere else?



Submitted June 24, 2017 at 12:56AM by ShrimpCherngFun http://ift.tt/2rMJdmP

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