If the owner of a life insurance policy dies and the insured is still alive but the policy hasn't matured, if the insured wanted to cash out will he/she only be getting the cash out value? 
I am sure that you can work with your attorney and find a way to surrender the policy . But here is a cautionary word : life insurance is for the beneficiary . Before you terminate the coverage , you need to be sure that the beneficiary will not need the money . Basically , has the need for the survivor benefit change so drastically that the coverage is no longer needed ? 