Marcel has a whole life insurance policy with a face value of $75,000, a cash surrender value of $38,860, and an adjusted cost basis of $21,654. His annual premium of $3,655 is due March 10. If Marcel makes no more premium payments, when will his policy lapse?

Answer rating: 100% (QA)

To determine when Marcels policy will lapse we need to consider the cash surrender value and the a... View the full answer