Can Life Insurance Policies Be Cashed In? 
Yes , Life Insurance policies can be cashed in if they indeed have a cash value . Term life insurance does not have a cash value so it can only be cancelled , not cashed in . To see what you would get by cashing in Whole Life or Universal Life , look for the surrender value on your most recent statement . Other options that might give you access to the cash value without giving up your entire policy are : borrowing from the value , making the policy a reduce paid up policy , or partial surrender . 