Can I Cash In A Universal Life Insurance Policy? 
Universal Policies which have actually accrued a cash value -LRB- equity -RRB- can certainly be cashed in . Most older policies do not have cash value , since they were based on the days when interest rates were high . If yours does have cash value , because perhaps you paid in extra amount , known as over funding , they you may wish to do that , but whatever growth you have will be taxable . You would be better off perhaps in working with a knowledgeable agent who may be able to do a tax free exchange for you into a better policy for your needs . Gary Lane , Registered Representative and Agent , New York Life , 949 797 2424 . Thank you . 