No, you generally cannot cash out a standard group life insurance policy because it is structured as a pure group term life insurance product rather than a permanent whole life plan with cash value accumulation. Group life policies do not build cash surrender value over time, meaning funds cannot be withdrawn, borrowed against, or cashed out while you are alive or upon leaving the company. The policy exists solely to provide a death benefit payout to designated beneficiaries if the insured passes away while coverage is active.
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