Can You Cash Out Life Insurance? 
That is a great question ! If your policy is a whole life policy , then yes , you can . If it is a term life policy , -LRB- like AAA or AARP offer -RRB- then you can not , as they have no value to them , unless you die and they pay out . The money you can collect from your whole life policy will be reduced by fees and any outstanding loans that you may have , so you know . I 'd strongly recommend that you discuss your reasons for cashing out the policy , there are a lot more reasons why you should n't than there are for doing it . I hope that helps , thanks for asking ! 