Feb 23
Should I cash out a variable adjustable life insurance policy?
With a variable or adjustable life insurance policy your death benefits and premiums vary according to your investment’s performance. The accumulated cash value is directed to your choice of investment accounts which can include stock funds, bond funds, real estate funds or a combination.
With variable or adjustable life insurance policies, you have more control over how your premiums are invested, but you are also responsible for the performance of the policy. You will have higher death benefits and cash value if the underlying investments do well and vice versa.
Before deciding to cash it out, I’d recommend spekaing to a seasoned professional to help you determine what action to take. Before cashing out any policy (or canceling) if you still have a need for insurance, be sure to get another policy approved before doing so. You don’t want to be left without coverage.
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