What Happens When I Cancel My Whole Life Insurance? 
I ca n't imagine why you would want to just cancel your Whole Life insurance policy ! You know that you have the option of replacing your current policy with another policy and have all the value of the current policy transferred to the new policy ? However as you asked what happens when you cancel a whole life policy - what happens is you no longer have the insurance . If the policy has grown sufficient cash value to cover the surrender fees and have an excess , you should be able to receive the remaining cash value at the time of cancellation . You really should talk with a qualified Insurance Adviser and find out what your options are and then decide how to proceed . 