Can I cash in my Prudential life insurance policy?
Then, can you cash out life insurance?
Yes, cashing out life insurance is possible. The best ways to cash out a life insurance policy are to leverage cash value withdrawals, take out a loan against your policy, surrender your policy, or sell your policy in a life settlement or viatical settlement.
Likewise, can you cash out life insurance before death?
Yes, some types of life insurance can easily be cashed in before death for the accrued cash value. If you need money and you have a life insurance policy with a cash value, there are way to get the cash from the policy without the insured person passing away.
Depending on the type of life insurance policy you have, here are four ways you may be able to access its cash value:
- Make a withdrawal.
- Take out a loan.
- Surrender the policy.
- Use cash value to help pay premiums.