You may be able to access your life insurance policy funds while you’re still alive. Whether or not you can do this depends on your insurer and policy type. For example, if you have a permanent life insurance policy, your policy may accrue cash value, which you may be able to borrow against as a loan or withdraw for personal use.
Another possibility is that you can sell your life insurance policy or surrender it for cash value. Depending on your insurer, you may be able to do this with either permanent life insurance or term life insurance.
You should know there may be tax implications or penalties for withdrawing cash value from your policy. Consult your insurance agent for more information on using your life insurance policy while alive.