Can a benneficiary cash inthe policy before the death occurs?

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Can a benneficiary cash inthe policy before the death occurs?

Asked on February 18, 2012 under Insurance Law, Pennsylvania

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

A beneficiary has no right to the proceeds from an insurance policy until the person for whom the policy is purchased has passed away.  Now, I am assuming that you are talking about a whole life policy and that there is a cash value at this point.  An owner can take out the cash value and may have other rights.  Good luck.


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