You can “cash out” of your guaranteed universal life insurance policy if you no longer require the death benefit coverage.
This means that you can give the policy away and get the cash value that has grown over time.
Nonetheless, remember that since these arrangements ordinarily have little money esteem, there may not be anything to cash out.
How long does a Guaranteed Universal Life policy take to accumulate cash value?
A guaranteed universal life policy has slow growth in cash value. There are GUL policies that do not accumulate cash value; however, if yours does, its growth will take many years.
The insurance company’s growth rate guarantee and the proportion of your premium that goes toward the cash value determine the growth rate.
