How Much Do You Get From Life Insurance? 
If you are the owner of the policy , you are able choose the amount of life insurance that you want to go to your beneficiary . It is called the face amount of the policy . When paid out , it is called the death benefit . As the owner , you do not get anything from the policy unless you have Whole or Universal Life , from which you can take cash value as a loan or surrender ; or Return of Premium Term Life , which pays back all the premiums if you live past the end of the term . 