Are there options for converting my life policy into cash value?

AXA Equitable offers various life insurance policies, and the ability to convert a life insurance policy into cash value typically depends on the specific type of policy you hold. Many permanent life insurance policies, such as whole life or universal life, accumulate cash value over time. This cash value can be accessed while the insured is still living, which can provide flexibility for financial needs. However, term life insurance policies do not accumulate cash value, as they are designed to provide coverage for a specific period at a lower premium cost. If you possess a permanent policy, there may be options available for borrowing against the cash value or even surrendering the policy for its cash value, depending on the terms of the policy. To understand your options better, it is advisable to refer to your specific policy documents or to explore the AXA Equitable website for further information. You may also find details on how to access cash value and the implications of these options. It is essential to consider the impact on your coverage and potential tax consequences when accessing cash value.