Can Whole Life Insurance Be Cashed Out? 
That is a great question ! Your whole life policy will indeed have a cash value that you can receive if you decide to get rid of the policy . But here are some things to think about before you do . How will you be protected if you do ? -LRB- Hopefully you have purchased another whole life policy from somewhere else first -RRB- Does it make more sense to just borrow from the policy as opposed to cancelling it ? If it 's a matter of affordability , have you spoken with your agent about maybe taking the policy as `` paid up insurance '' , or reducing the coverage to make the payments cheaper , or even end ? It is important to not act without thinking about protecting your family first , okay ? In the event that you want to go ahead and cash it out , contact your agent , and tell them you want to `` surrender '' the policy , and ask what the surrender value to you will be . The company will subtract fees , loans , etc from the cash value , so you will want to know the surrender value , as that 's what the check will be written for . Once your request is submitted , the process is fairly quick . I hope that helps , thanks for asking ! 