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Amex app grey area

Valued Contributor

Amex app grey area

Smiley TongueAnyone ever include their life insurance policy in the asset line?

Message 1 of 30
29 REPLIES
Frequent Contributor

Re: Amex app grey area

I wouldn't bc it's only upon death in most cases. It's not something you could liquidify to repay debt that's what assets and that's really what they want to know.
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Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
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Message 2 of 30
Valued Contributor

Re: Amex app grey area

Question on the back of my mind for while. Shot off email to them, as I'd love to know the technical viewpoint from them.
Message 3 of 30
Valued Contributor

Re: Amex app grey area

    I think it is an asset certainly. I am not an accountant however.

Message 4 of 30
Valued Contributor

Re: Amex app grey area

I shot off the email right before posting this. I'm curious as hell about their answer.

Message 5 of 30
Frequent Contributor

Re: Amex app grey area

If there is a cash surrender value, I would include that amount and nothing else.

 

When did Amex start asking for assets? This must be recent.

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Message 6 of 30
Valued Contributor

Re: Amex app grey area

I've seen it since zync...seven months?

Message 7 of 30
Valued Contributor

Re: Amex app grey area

Yeah that is what I was thinking.

Message 8 of 30
Valued Contributor

Re: Amex app grey area

It's even on the droid app...Don't know...It's normal to me.

Message 9 of 30
Senior Contributor

Re: Amex app grey area

I would think it is definitely an asset if it is a whole life policy with cash value.  I wouldn't think term would be an asset.


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Message 10 of 30