What happens if you stop paying life insurance premiums?

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asked Mar 17, 2019 in Insurance by Jac267 (230 points)
What happens if you stop paying life insurance premiums?

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answered Mar 17, 2019 by lesiaxesia (400 points)
If you stop paying your life insurance premiums then the life insurance company will likely cancel or terminate your life insurance policy.

That is unless you contact the life insurance company and see if they have a cash out policy where you could sometimes cash out on the life insurance policy before the persons death.

Some life insurance policies allow you to cash out while others may not.

You usually also have to pay a tax on the money you cash out from the life insurance policy as well.

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