Can You Cash Out A Universal Life Insurance Policy? 
That is a great question ! The answer is yes , but I 'd ask you to contact your agent first , and see if this is the best alternative for you . A couple of things could be bad for you incashing this type of policy out . The first is that you wo n't have any coverage , should you pass , and if you are older and in worse health than when you started it , may find it cheaper to keep it . The second is that if it built up a large amount of cash , that cash is most likely going to be taxable , and may put you in a higher bracket for the year you take it , which can be very expensive . This is really a case where maybe taking a loan out of the policy is better than closing it out . Please talk to your agent , and then decide what to do , okay ? Thanks for asking ! 