If the owner of a life insurance policy dies and the insured is still alive but the policy hasn't matured, if the insured wanted to cash out will he/she only be getting the cash out value? 
Great question ! The only way that a policy will pay out the whole face value is upon the insured 's passing . Until that point , if you are wanting to surrender the policy , the most that you can get is the amount of the cash value , minus any surrender charges , loans or unpaid premiums . Contact the company to determine what that amount would be , and to get the appropriate paperwork . Before doing that though , it is always best to have an active policy for yourself so ensure that you do . Any more questions ? Please feel free to contact me , I 'm glad to help . Thanks for asking ! 