Can Life Insurance Policies Be Cashed Out? 
Yes , if you have a Whole Life or Universal Life policy that has cash value built up in it , you can choose to surrender your policy and cash it out . Once that is done , you will no longer have life insurance coverage . If you want to take the cash out of your policy and keep your life insurance policy intact , you can borrow from the cash value or do a partial surrender . Please contact your agent or another agent to assist you with that decision . 