Early Cash-Out Option
A life insurance policy is an investment, and you don’t always have to wait until death to access the funds from your policy. Prepare for a potential financial crisis by choosing a whole life plan that gives you the flexibility to cash out early, if desired. This type of policy serves as a sort of savings account as well as a life insurance policy.
Not all insurance policies offer the early cash-out option. If you think this is something that might interest you, then make sure to let your insurance agent know so he or she can rule out other options. You’ll also want to ask about any fees that may apply for an early cash-out as well as any interest that may accrue before the cash-out.|