User:CatherineDowns1891

I have a 250k policy that is 4 months old, it was purchased for me as a gift from family as an investment tool. I already have term life insurance and permanent coverage so I don;t need this product. The surrender charge is $3750 but the cash value is 0 since the account is so new. Will the insurance company be able to bill me for the $3750, or is that only subtracted when there;s money in the account? I would rather take the money going into this product and invest it elsewhere, but not if I have to pay $3750 to get out of this. Are there any other penalties that I should be aware of before considering this?