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? 
First , the Reduced Paid Up feature of your policy allows you to stop making premium payments and accept a reduced paid up option for whatever the reduced face amount is at the time you utilize the option . For example if your 20 year old $ 20,000 policy has a Reduced Paid Up of $ 12,000 and you utilize the option you would have a paid up policy of $ 12,000 with no further premium payments required . If the amount of the reduced paid up insurance is sufficient for your personal needs , you could use the money you paid for your policy and pay premiums on a policy for your daughter . This is not complicated at all and replacement is not an issue since you are keeping your policy . The Reduced Paid Up option does not allow for any up front cash however other than the money you save on premiums . Some Mutual companies that pay dividends . You could take the dividends in cash and use them to help pay for a policy if you have a policy that pays dividends . You could take a loan on the cash value of your policy but I really do not recommend doing that since the loan will reduce your death benefit or you could cash surrender a couple of policies if you do not need the insurance . 