Can I Cash In My Insurance? 
If you have a life insurance policy that has been building cash value -LRB- a permanent life insurance policy - term policies do not build cash value -RRB- you can cash it out . However , before you terminate any life insurance policy , you should talk to your agent to make sure it 's the right move for you . One of the things that most people do n't think about is their insurability , especially when they have an existing plan . They may have preferred rates at the time they got it , but now have a medical history and may be looking at standard or substandard rates on a new plan if they decided to get coverage again later on . If you 're looking at securing new coverage / replacing the old policy , you should compare the two structures and make sure it 's the most favorable course of action for you . After all things considered and you still want to cash out the policy , you can call the carrier/contact your agent and tell them you want to terminate the coverage -LRB- the amount you receive would be less any surrender charges or loan fees , if applicable -RRB- . Please let me know if I can be of further assistance . Thanks very much . 