How Much Is My Life Insurance Policy Worth? 
If you have Term Life Insurance , your policy is worth the face amount of the policy . However , it is only worth that if you die before the policy lapses -LRB- at the end of the term , or when you quit paying premiums -RRB- . If you have permanent insurance , your policy has three possible values : 1 -RRB- The face amount , which is what your beneficiary would be paid if you died . 2 -RRB- The cash value -LRB- f there is any -RRB- , which is what you could borrow from , or get in cash if you surrendered the policy . 3 -RRB- Sometimes a permanent policy can be sold as a life settlement . The insured person must have significant health problems and the policy must have certain criteria to be considered by investors for purchase . In # 2 and 3 # , the policy will no longer pay your beneficiary any death benefit if you die . So the highest worth for your Term or Permanent policy is to keep it until death occurs . 