40 year old life policy.

My (51M) mother (72) contacted me yesterday about a life insurance policy purchased by my grandparents when I was approximately 5-6 years old.

My uncle is currently managing my grandmother's assets, as she is in a care home, which we all know is extremely expensive.

I know nothing about this policy, except that the premiums were still being paid, and the original policy was for $1000. Everything else is unknown (term life, cash value policy, etc).

It was, basically, asked if I wanted the policy. I asked for more information, and none was offered. It was then said the money could be used for my grandmother's care at the home. It was then that it struck me odd that $1000 policy would even make a drop in the bucket for her care, knowing most places are $10k/mo. or more.

My first question is, can this policy be simply cashed out without any further interaction from me?

And, assuming it does have a decent worth, is there any way to guesstimate the value?

I only ask, because I dont really trust my uncle. My grandfather was a very savvy investor, or so I thought, and provided very well for my grandmother after his passing. She never had a need , or want, go past. It seemed after she required more care, that the money is getting tighter. And, like I said, I know elderly care is crazy expensive.

Its just how this was all presented to me, with little detail, that has me on edge.

I apologize for the novel.

submitted by /u/brisketsliced1973
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