Can A Whole Life Insurance Policy Be Cashed In? 
The only life insurance policies that have the potential to be `` cashed in '' are the `` permanent '' type of policies such as Whole Life and Universal Life . Of course a cash value insurance policy only has cash value to be `` cashed in '' after it has been paid into for some time . If the policy has accumulated cash value in excess of the `` surrender fees '' the policy may be surrendered or ` cashed in ' , which will terminate the policy and you will be given whatever remains of the cash value . It may be in your best interest to take a loan against the cash value rather than surrender the policy . You should discuss your options with your Insurance Adviser . 