Question

Can you cash in a life insurance policy before you die?

Answer 1

Some Life Insurance Policies allow you to cash out the Life Insurance Policy before you die but some may not allow you to cash out.

You'd have to read the terms and conditions of your life insurance policy to be sure that you can cash out your life insurance policy.

If you can cash out your life Insurance policy before you die then that would be best and then you could use the money to pay the funeral home ahead of time for your funeral expenses and you'll have everything taken care of.

Then you can use the rest of the money for anything else you want too.

Answer 2

If the Life Insurance Policy is a whole life insurance policy then yes you can cash out the Life Insurance premiums before your death since whole life insurance policies build cash value overtime when you pay the premiums.

If you have Term Life Insurance then no you cannot cash out a Term Life Insurance Policy since Term Life Insurance is only used to pay your funeral expenses, bills and other final expenses.