Can this be cashed?: $500 (Maximum Amount) 20-Year Payment Whole Life Industrial Policy from 1952? -

My grandfather recently gave me an envelope with some paperwork inside for a $500 (Maximum Amount) 20-Year Payment Whole Life Industrial Policy that he took out on my mother back in 1952 with Met Life. He is named as the beneficiary, and he told me to have her sign it, and she could cash it in. I know nothing about insurance policies, so I'm wondering if this policy is worth $500 now, or has it increased in value? If my mother decides to cash it in will she receive $500? How would she go about cashing it in? It says on it that in 1972, it was worth $163. Thanks in advance for any help! Most $500 policies that matured in 1972 would be worth far more now, as long as premiums were paid in full so that the policy didn't lapse. Since you used the words "maximum $500", though, I am reluctant to say that for sure. Your Mom should definitely call the insurance company to find out her options. They will be able to tell her if the policy is current (a lot can happen in 55 years - your grandfather could have cashed it in and not recall), how much it is currently worth and how to go about surrendering the policy. Don't bother trying to call for her - they can't talk to you due to privacy laws - but you can be on the phone and help her along. She is likely the current owner even if your grandfather originally owned it - many policies on children automatically become the property of the insured when they become of age, unless your grandfather chose not to do that. If he is still the owner than he would have to sign the policy over to her in order for her to cash it in. Again, something to discuss with the insurance company. Best of luck! A whole life insurance policy is a permanent policy that builds with dividends or interest rates. The policy has definately grown since 1972. Your best bet would be to look up the policy number with an agent to see how much is accumulated and if she can cash it in. If she is the owner of the policy then she can cash it. However if she was a minor in 1952, then your grandfather may be the owner. If the whole life policy was issued in 1952, and it was 20 years to payoff, then it should be worth more than $500. Don't quit your day job though. It won't be millions, but should be a nice suprise. Why don't you just call the insurance company and find out? Hey, look at this person's windfall. Why not take out whole life insurance on your kids? Compare Whole Life Insurance Here. If she DIES it's worth $500. You'd be lucky to get $200 for it today. The OWNER of the polciy can cash it in - likely your grandfather. Someone will have to call the insurance company and ask what the surrender value is. Contact MetLife. Honestly, no one will know the answer any better. They may ask to speak to your grandfather or only send information to him because it sounds like he is the owner of the policy. Due to the age of the policy, it may take two weeks, or longer, to get specific information on this policy. http://www.metlife.com