Can I Cash In My Universal Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, you can cash in your universal life insurance. If your health has not changed since you got the policy, and if you happened to buy one without secondary guarantees, you may be able to find a better option now. Contact an honest agent who can assess your policy for you, look at other options available, and determine if a more cost effective policy is out there for you before you make a snap decision to cash it in. Sometimes you can adjust a UL policy to make it work for you. But if the interest rate was high when you bought it and now is using your cash value to help pay the premium, it is probably time to make some adjustments, if not cash it in and start over.
    Answered on November 11, 2013
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