No.  I am guessing that this is a life insurance policy.  Life insurance policy proceeds don't exist until the insured dies.  So, there is no way to access the funds now.What you could do is sell the policy on a secondary market.  There are several places that do this.  They normally only buy and sell whole life policies not term policies.  If you have a whole life insurance policy you may be able to sell it outright and use those finds to use for the child now.Best of luck.