Money can be taken out of a life insurance policy if there is enough cash value accumulated, minus charges, to take money out. This can be done by policy loans, surrender, or dividends. A policy loan must be repaid with interest to keep the policy intact. Surrender causes the life insurance to be terminated. Dividends can be taken in cash vs adding them to the policy.
Contact the agent or company through whom you have your policy to request a current illustration and see how much money you have available. Then review all your options thoroughly with your agent so that you can safely take full advantage of this great resource you have built up.
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Contact the agent or company through whom you have your policy to request a current illustration and see how much money you have available. Then review all your options thoroughly with your agent so that you can safely take full advantage of this great resource you have built up.