So my aunt holds two Whole Life insurance policy, one for me and one for her.
The following tables are the premiums paid, cash values and changes in cash values from year 2012 to 2014.
I'm not sure if I'm understanding the math here correctly, because from the way I see it,
Between 2012 and 2013, Person A paid 1.3k in premiums, and the Cash value increased by 2k.
That's essentially a $700 gain in that one year, because that $700 can be realised if we terminate the Whole Life plan right now, isnt it? That gain is also on top of the insurance coverage we get for that year.
Same goes for the other years. The gains seem a little bit... too large to be true, especially for a Whole Life insurance policy. I must be missing something
Thanks in advance for the advice
The following tables are the premiums paid, cash values and changes in cash values from year 2012 to 2014.
I'm not sure if I'm understanding the math here correctly, because from the way I see it,
Between 2012 and 2013, Person A paid 1.3k in premiums, and the Cash value increased by 2k.
That's essentially a $700 gain in that one year, because that $700 can be realised if we terminate the Whole Life plan right now, isnt it? That gain is also on top of the insurance coverage we get for that year.
Same goes for the other years. The gains seem a little bit... too large to be true, especially for a Whole Life insurance policy. I must be missing something
Thanks in advance for the advice
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