Hello everyone,
First post here, but I've been hanging around this forum for a few years. This place has been a fantastic resource for me and my family.
I have a variable universal life policy that I signed up for when I was in the military, young and didn't know any better.
It has a surrender value of about 18K.
I would like to terminate the policy and put the money to better use.
Is it possible to do a rollover with those funds, or do I take some kind of early withdraw tax?
I've searched the forum and wasn't able to figure it out.
Thanks for reading and any thoughts or advice is greatly appreciated.
First post here, but I've been hanging around this forum for a few years. This place has been a fantastic resource for me and my family.
I have a variable universal life policy that I signed up for when I was in the military, young and didn't know any better.
It has a surrender value of about 18K.
I would like to terminate the policy and put the money to better use.
Is it possible to do a rollover with those funds, or do I take some kind of early withdraw tax?
I've searched the forum and wasn't able to figure it out.
Thanks for reading and any thoughts or advice is greatly appreciated.
Statistics: Posted by Microamp — Thu Aug 29, 2024 11:00 am — Replies 4 — Views 153