"Most cash-value policies have surrender charges that decline over a period of time," Blakeman says. "That's often 10 years, but it could be 12 or 15 years."After that, you'll generally pay no surrender charge or a very small surrender charge, Blakeman says.
The 5 Most Terrifying Life Insurance Words
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.