How Can You Cash In Life Insurance? 
When a permanent policy has CASH built up and there are no outstanding loans the insured has options . They can borrow the money from the policy in the form of a loan -LRB- some policies require you pay it back , others do n't -RRB- , they can terminate the policy and take the cash -LRB- subject to taxes of course -RRB- , or they can do a 1035 exchange and move that cash into another qualified financial product . Before any of these actions are taken it 's wise to complete a new and updated needs analysis with an experienced agent to determine the smart play with your money . 