While it isn't always advisable to cash out your life insurance policy, many advisors recommend waiting at least 10 to 15 years for your cash value to grow. Consider reaching out to your insurance agent or a retirement specialist before cashing in a whole life insurance policy. The Bottom Li...
Permanent life insurance (i.e. whole life or universal life) provides your beneficiary a death benefit as long as you live. It also accumulates cash value that you withdraw or borrow against during your lifetime. It has a level, higher premium than term insurance. Boomer:If I am age 60 ...