How can I estimate the cash value of a Variable Life Insurance Policy that I purchased in 1985 and have paid up?

I have a John Hancock Variable Life Insurance Policy with a face value of $50,000. I purchased the policy in 1985 and it is paid up. How can I estimate its cash value?

Investing, Insurance, Life Insurance
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March 2018

There's no reason to estimate the cash value. Simply call the carrier and ask them what is the current value.

I assume that you didn't buy a product that has both a guaranteed cash value as well as a non- guaranteed value. If you did, then get both numbers.

If you are concerned about the future value of the policy, ask them for an in-force illustration showing current and future values, assuming no future premiums are paid. I stipulate that because I assume that when you say “paid up,” you mean you have stopped paying into the policy.

This is a good time to evaluate your need for life insurance going forward. Make sure you cover all the possible bases, because there could be a number of reasons for why you need coverage.

March 2018