Insurance

Mary Anne asked:


My friend’s father died recently. Twenty years ago, her father took out a small life insurance policy to pay for his funeral expenses. The beneficiary is my friend’s stepmother. The stepmother doesn’t even recall a life insurance policy. She wonders if he had cashed it out. How can my friend find out if a life insurance policy still exists? Those unclaimed fund sites don’t usually include life insurance policies, and the life insurance company may not know that a death has occurred.

Amber M asked:


I want to purchace some life insurance just in case.

chookabo_ho asked:


My dad has a whole life insurance policy that he’s had for years and wants to surrender and get the cash value. The insurance agent has been giving him the runaround and trying to get out of sending him the forms to surrender the policy. Is this typical and what can you do about it?

Krish R asked:


Upon retirement, Fran used her life savings of $150,000 to purchase an annuity. The life insurance company from which she purchased the annuity offers 8% interest compounded semiannually and she is to receive one of 40 equal payments every 6 months starting in 6 months. How much will she receive every six months?

Answer should be $7578.52