Can I Cash Out My Life Insurance?

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    Peggy MacePRO
    Most of the U.S.
    If there is cash value in your life insurance, and it is of a value more than any loans or fees or surrender charges that would need to be paid, you can cash it out. There are other options for your policy, as well, such as reducing the face amount so that you no longer have to pay premiums on the policy. Or taking a loan from your policy. Or taking dividends as cash. Before you give up a permanent policy that has built up cash value, you should explore these other options.
    Answered on July 31, 2013
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