Can I Use Reduced Paid Up On Four Of My Policies To Use The New Found Money As Payment For My Daughter's Finale Expense Policy? 
That is an interesting question ! I want to make sure you understand what exactly you are asking , and what would happen , as it seems as if the agent you spoke with may have misunderstood you . You have 6 policies totaling $ 31k in face value . Without knowing how long you 've had them , let 's assume they are each at least a couple of years old . There are some things to be aware of here - taking reduced paid up coverage on 4 of them might seem like that would leave you with about $ 20k in coverage , but chances are it will actually be considerably less than that . How much coverage were you wanting to keep on yourself ? The second thing to be aware of is that you wo n't receive any money from taking the reduced coverage , only what you would have paid monthly on them . So again , understanding that I have no information on your policies to go on , let 's assume that they are all for $ 5k apiece and you pay $ 40 total a month in premiums . What you will gain from taking the reduced coverage is considerably less than $ 20k insurance for you , and $ 40 a month more money . Assuming that you are good with considerably less insurance coverage for yourself , and that your daughter 's policy can be purchased for less than that $ 40 a month , you are good to go . Since you are not surrendering any of the policies , there are no replacement issues to worry about , as you 're not replacing anything . There 's a whole lot more information that I would need to really steer you right , so maybe it would be wise on your part to contact someone other than whom you spoke with the first time , and get a better idea . Good luck , and thanks for asking ! 