How Do You Verify The Cash Surrender Value Of Prudential Life Insurance?
Most Prudential life insurance is purchased in order to financially protect loved ones after your death. Life insurance proceeds can be used to pay off funeral expenses, auto and mortgage debts and estate taxes. While this is the primary reason for purchasing life insurance, you can also fund a supplemental savings program where assets grow tax-deferred in the policy’s cash value. This is only available through permanent life insurance such as whole or variable life, not term policies. Review your policy to determine what type of insurance it is. Remember that only whole and universal life policies accrue cash value. Review whether your cash value is growing based on a fixed rate of return or a variable rate of return. Fixed rates are guaranteed, whereas variable rates fluctuate based on market performance. Your most recent statement should show how your cash value is invested if it is in mutual fund sub-accounts or getting a fixed rate of return. Contact Prudential customer service to
