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	<title>New answer on: Can You Cash In Whole Life Insurance?</title>

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		<title>By: Stan Cox II</title>

		<link>https://insurancelibrary.com/life-insurance/can-you-cash-in-whole-life-insurance</link>

		<dc:creator>Stan Cox II</dc:creator>

		<pubDate>Thu, 09 Jul 2015 22:03:19 +0000</pubDate>

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		<description><![CDATA[If there is cash value accumulated in the policy or if there is a declared cash surrender value, and you are the owner of the policy, yes you may &quot;cash in&quot; a whole life policy. There are generally &quot;surrender charges&quot; or fees associated with surrendering a policy so in order for you to receive any cash from the transaction there will need to be more cash value accumulated that the fees amount to.]]></description>

		

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		<title>By: Jim Winkler</title>

		<link>https://insurancelibrary.com/life-insurance/can-you-cash-in-whole-life-insurance</link>

		<dc:creator>Jim Winkler</dc:creator>

		<pubDate>Tue, 27 May 2014 05:03:32 +0000</pubDate>

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		<description><![CDATA[That is an excellent question! You can, but be aware that there can be some problems if you do. The first is that you will no longer be insured, if something were to happen, and you were to pass. There may be tax consequences, and the amount that you might get for surrendering the policy can be reduced a good deal by charges that the company will impose for you closing it out. My advice is to talk to your agent first, and see exactly what your circumstances would be. Sometimes there are better options than cashing it in. Thanks for asking!]]></description>

		

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		<title>By: Gary Lane</title>

		<link>https://insurancelibrary.com/life-insurance/can-you-cash-in-whole-life-insurance</link>

		<dc:creator>Gary Lane</dc:creator>

		<pubDate>Sat, 24 May 2014 21:04:48 +0000</pubDate>

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		<description><![CDATA[You most certainly can, so long as you have not borrowed more than its value. However, why would you when you can easily just borrow against its value and gets the vast majority of its value that way and a tax free loan, which you never have to repay. If, however, you were to choose to close out your policy (cash it in), any money you had already borrowed, along with any money you would get in excess of what you had paid in, would be fully taxable to you as ordinary income. Ouch. Not a wise move. You should consult with your insurance agent. Thank you. GARY LANE.]]></description>

		

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		<title>By: Lenny Robbins</title>

		<link>https://insurancelibrary.com/life-insurance/can-you-cash-in-whole-life-insurance</link>

		<dc:creator>Lenny Robbins</dc:creator>

		<pubDate>Sat, 24 May 2014 19:58:56 +0000</pubDate>

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		<description><![CDATA[You may as long as the cash value exceeds any surrender value in the policy.  Note that surrender value decreases as the policy ages so that they may not be any surrender charge in older policies.  You should also be aware that any interest that has been generated within the policy and tax-deferred will become fully taxable in the year the policy is surrendered.]]></description>

		

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