Can You Cash Out Of A Life Insurance Policy?

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   Peggy Mace

   Most of the U.S.

   Yes, if the life insurance has cash value (such as Whole Life or Universal Life) you can surrender the policy for cash value. In the first years of the policy there will be a surrender charge that comes out of the cash value. In Term life, there is no cash value so you simply drop the policy by stopping payments.

   Answered on May 1, 2013

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