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i want to cash in my whole life insurance policy could i get the total cash value of the policy or just a part?

Public Comments

1. You get cash value, less surrender fee. that is NOT the "face value" or payout amount when you die. Cash value is about 10% of what you've paid into it. So, add up everything you've paid in, take 10%, subtract about $250, and whatever is left, is how much your policy is worth if you cash it in (which means, cancel it). If you've paid in $5,000 so far, cash value is probably around $250.
2. Just a small amount.
3. Isn't the question best posed to the insurance company ? Also read the terms of the policy.
4. You can get it all minus fees.
5. Thumbs down to the first answer. If the policy is 10 years old you'll get most, if not all of your premiums back. If it's 1 year old then you'll get nothing back. You can also borrow about 90% of the cash if you want the policy to remain intact.
6. You should also consider a Life Settlement where you sell your policy to an investor group. In most situations, you will get more money than the cash value. Talk to an agent. Good Luck.