Who Will Buy My Life Insurance Policy? 
The policy owner can surrender their cash value policy and the insurance company will give them the cash surrender value net of any policy loans or surrender charges . As life insurance is property , the policy owner may sell their life insurance policy . This has developed in recent years into a secondary market for unwanted or unneeded life policies called life settlements . Not all policies are valued higher than the cash surrender value . To find out more , ask your life insurance professional for guidance in this area . Family members or charities may also be potential new owners for life insurance you might currently own . There may be planning and/or tax advantages to consider . Again , check with a life insurance professional or your tax adviser for more information . 