What would an insurance policy be worth (cash value) today if the policy cost was $500 when taken out 60 years ago ?

It depends upon the policy. Some never go beyond the face value. My father''s mother took out what was called a "burial policy" when my father was born. Many children died young back in the olden days and this was considered prudent. It cost ten cents a month and the face value was $250. My father kept it up for years just to see if he was the oldest policy holder. When he died at the age of 97 I got $250 as the plan stated.

Maybe nothing, but no one here could possible guess. You will HAVE to contact the insurance company.

Contact the insurance company and find out.

Read your policy as each one has a different method of payment at maturity.

Could be nothing.