Ask the Life Insurance Expert

Can I cash in the life insurance policy on my ex-husband before he passes away?

If you’re the policy owner, you can do anything you want with it – cash it in, change the beneficiary, take out a loan against the cash value.

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Remember that only permanent life insurance can build up cash value. Term life insurance cannot be cashed in. Here’s more on cash value life insurance.

Last updated: Feb. 14, 2014
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