if my policy is for 20,000 and my cash value is 9000.00 does that mean i have 29,000 paid out at time of death

No, if your life insurance policy has a face value or death benefit of $20,000 and a cash value of $9,000, it does not necessarily mean that the total payout at the time of your death will be $29,000. Here's why: The death benefit is the amount of money that your beneficiaries will receive from the insurance company when you pass away. In this case, it is $20,000. The cash value, on the other hand, is the amount of money that has accumulated in your policy over time. It is the result of the premiums you've paid plus any investment earnings or interest credited to your policy. Typically, you can access the cash value of your policy through loans or withdrawals while you are still alive. If you borrow money against your policy or withdraw some of the cash value, the death benefit will be reduced by that amount. So, if you've taken out a loan or withdrawal of $1,000 from the policy, the death benefit will be reduced to $19,000. At the time of your death, the insurance company will pay out the death benefit to your beneficiaries, minus any outstanding loans or withdrawals. So, if you still owe $1,000 on a policy loan when you die, the insurance company will deduct that amount from the death benefit and pay out $19,000 to your beneficiaries. It's important to note that the cash value is not guaranteed, and it may fluctuate over time depending on the performance of the investments or interest rates in the policy. So, the cash value of your policy may be higher or lower than the $9,000 that you currently have. In summary, the total payout from your life insurance policy at the time of your death will be the death benefit minus any outstanding loans or withdrawals from the policy. The cash value of the policy is separate from the death benefit and does not necessarily reflect the total payout at the time of your death.