Cash Value of a Policy

What is Cash Value of a Policy?

Every policy bought by the customer, it will have Cash Value except for term insurance. Cash Value availability for every policy depends on the product features design by the insurance policy. It can have Cash Value after a year, two (2) years or three (3) years.

The Cash Value will be used in the event:

1.    If the policy’s premium has not been paid after 30 days grace period. The cash value will be used to cover for the premium due until it is fully exhausted

2.    The existing cash value, if any, will be paid to the customer if the customer request for surrender of policy

3.    Cash Value will be paid, if any, during the maturity period of the policy