Can You Cash In On A Life Insurance Policy?

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   Jeff Davis

   Insurance Advisor, Lordship Insurance Services, California

   It will depend on the type of policy it was and whether or not you are named on the policy as a beneficiary or an owner. The only policies you can cash in are those that have a cash value associated with them. Not all policies have a cash value so if you are the owner you cannot access any cash (if you own a term policy on yourself). But if you are the beneficiary and the insured dies, any cash value associated with the policy becomes yours.

   Answered on September 18, 2013

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