Can I cash out my standard life insurance policy?
You can access the value of a Unum life insurance policy if it is a permanent plan that includes a cash value accumulation feature. For these policies, you may be able to borrow against the cash value, which allows you to access funds without undergoing a credit check or providing collateral, although unpaid loans will ultimately reduce your death benefit. Term life insurance policies issued by Unum do not build cash value and cannot be cashed out. Because policy terms can vary significantly based on your specific plan and employer-sponsored benefits, you should consult your policy documentation or contact Unum's customer service department directly. They can provide guidance on your specific policy features, explain the process for borrowing against the value, and detail any fees or interest rates that might apply to your account.
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