I have a couple of Accidental Death, Dismemberment and Loss of Sight Benefit policies. I got them with some loans I applied for. They are paid in full. Is there any way I can cash them in?
Answer:
The only way that you can “cash in” on these policies is if they have some cash value attached to them. Since these policies were associated with loans (and I’m presuming the loans are paid off), the value of the policy is likely nil.
In most cases, the only kind of insurance policy that you can cash in is Whole Life Insurance.
