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The insurance policy was paid in full in 1956 and had cash value at that time of $171.00. The policy states that all dividends earned will be returned to the policy in the form of paid up insurance. That is what the policy stipulated in 1936. Does any one have any idea what it might be worth in todays dollars.
Bigjoe
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5 Responses to How much would a paid up purdential whole life insurance policy from 1936 valued at $380. be worth toda?
rongar
June 29th, 2010 at 2:04 pm
don’t know but i am sure much more that $380. good luck! oh!
is the insurance company still in business?
Streaker
June 29th, 2010 at 2:51 pm
I have one of these and depending on the value of the whole policy to what it is worth today. Was it in the amount of $20,000. That would be the payout for funeral costs today but the cash value today might be a little lower.
Best bet would be to contact them and ask.
Currently my $20,000 has a cash value of 11,000, but then again, I took some out in a loan and haven’t repayed all of it yet. I let the dividens pay for it. Mine was bought in 1978. Also, check with them to see if they didn’t issue you any stock when the went public a few years ago. Currently, I received 49 shares of the stock. Haven’t done anything with it though, just letting it gather money. It isn’t enough to make a difference for me but I don’t feel like paying the capital gains tax on it if I sell and I don’t have the extra money to purchase anymore at this time.
Order In Chaos
June 29th, 2010 at 3:48 pm
You need to call them (888-778-5471). They have complex benefit calculations the use.
I worked for Prudential in systems for 8 years and coded some of these modules.
On a side note, I resigned from this company because they repeatedly requested me to cook the books on performance metrics.
~
aaron p
June 29th, 2010 at 3:53 pm
You need to call Prudential to find out 888-778-5471.
Two things:
1. The face value probably has gone up a little bit (if it was never loaned against or cashed in), but don’t expect a huge change. No one besides Prudential will be able to tell you for sure.
2. Prudential is no longer a mutual company. When they de-mutualized, they issued stock certificates to the policy owner at the time. I think it was 1982-1983. IF the policy was in force at the time, the owner also has Prudential stock. Again, Pru will be able to tell you if it was in force during the de-mutualization.
Sad Soul
June 29th, 2010 at 4:03 pm
Any type of insurance are never paid in full. You have to continuously pay to get protection. The life insurance policy you are speaking of is more likely have to been lapse and is therefore, worth nothing. If you are the policy owner, you should be getting annual statement or a bill in the mail. If it hasn’t been coming in the mail for a very long time, the policy is very likely to be lapsed.
Anyway, you should call Prudential customer service. They can give you a better answer on this matter.