Can You Cash In On A Life Insurance Policy? 
It will depend on the type of policy it was and whether or not you are named on the policy as a beneficiary or an owner . The only policies you can cash in are those that have a cash value associated with them . Not all policies have a cash value so if you are the owner you can not access any cash -LRB- if you own a term policy on yourself -RRB- . But if you are the beneficiary and the insured dies , any cash value associated with the policy becomes yours . 