Can You Surrender A Life Insurance Policy? 
You certainly can surrender a policy for its cash value , but then you have no life insurance . It would be much better for most folks to just borrow money from their policy and either pay it back or not . With a surrender , you will have to pay tax , but with a loan you will not , even if you do not pay it back , and you would still have a smaller but existing life insurance policy . Pay it back later and the death benefit returns automatically to the full amount ! Call me , Gary Lane , Agent , New York Life , 949 797 2424 . Thanks . 