should you get a policy with cash value 
it depends on your individual financial situation if you have maxed out contributions to your retirement account have a cash nest egg saved for emergencies and you can afford the monthly premiums on a permanent life insurance policy with a cash value benefit it may be a good choice however if you cannot afford a lifetime of high premiums and you are struggling to save for retirement these accounts are not recommended as a tool for investment can you use the cash value and still keep the policy in many cases it is possible to use the cash value in your account to pay your premiums by doing so you keep the coverage in place for your beneficiaries you can also take partial withdrawals and loans against your cash value and keep the policy if you use the policy cash value your death benefit will be reduced can you sell your life insurance policy while not always advisable you may be able to sell your life insurance policy to a third party for cash this is called a life settlement 5the bottom linecash surrender value is what you receive back for canceling a life insurance policy with cash value before it matures or you pass away only permanent policies like whole life and universal life have surrender cash value if you surrender the policy you could owe fees and other charges therefore the surrender value could be less than your current cash value in addition if you surrender your life insurance policy it will impact your listed beneficiaries as you will no longer have insurance protection investopedia does not provide tax investment or financial services and advice the information is presented without consideration of the investment objectives risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors investing involves risk including the possible loss of principal investors should consider engaging a financial professional to determine a suitable retirement savings tax and investment strategy 