When To Surrender Life Insurance? 
Few good reasons to surrender a life policy . My own personal doctor did just that , and how he has no life insurance . He said he does not need it because he has so much money . But if he were to lose that money , his family would get nothing upon his death . Not a wise move . When surrendered , a whole life policy has cash surrender value which you would get , but if you need that money , New York Life allows you to borrow against that money and keep it tax free . 