should you surrender your policy 
if you surrender your policy you end your life insurance contract you stop having to pay premiums and will receive all your cash surrender value the downside though is you lose your life insurance protection your heirs will no longer receive a death benefit when you pass away 1if you only need some of your cash value you could take a partial withdrawal this maintains your life insurance and whatever cash value is still in the policy will continue to grow you can withdraw up to what you paid in premiums tax free if you withdraw your cash value gains you would owe income tax on the gains partial value withdrawals will reduce your death benefit with universal and variable life insurance policies cash values are not guaranteed sufficient cash value must remain inside the policy to support the death benefit 2you can also access your cash value with a loan you do not owe income tax for borrowing cash value when you take out a loan but the insurance company will charge interest until you pay the money back you decide when to pay the money back if you die with an unpaid loan the insurance company will use your death benefit to pay off the loan and then pay whatever is left to your heirs 3if you want help covering your insurance premiums you could pay them using your cash value your insurance company will deduct the cost of your insurance from your cash value balance once you spend down all your cash value you need to start paying the premiums again or else you lose your coverage 1