Even though Life Insurance premiums provide you and your beneficiaries with a lot of financial support, it is inevitable that sometimes you might consider using the policy’s cash value. Some reasons for cash-outs include:  - You have found an insurance company with better options that suit your changing lifestyles  - You no longer require coverage as maybe your beneficiaries have passed away or they do not need your financial support anymore  - You have other significant financial priorities that demand quick cash payments (e.g., buying a new home, paying for your child’s tuition fees, etc.)  - You have debts, but you want lower interest rates than banks/ credit cards, or you have low credit scores.  - You wish to reduce your premiums by using some of the cash value to cover them.  There are multiple reasons why you need to cash out your policy but of course, always remember to consult your insurance broker or your accountant/ financial advisor to decide if you need to and if there are any other alternatives.