Equitable Life & Casualty Insurance Company : Surrender Life Policy for Cash Value

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If you are thinking about surrendering your life insurance policy for the cash value we encourage you to consider this decision carefully. It may not be in your best interest.

As an alternative you may wish to consider placing a loan against your policy. With a policy loan, you can recieve your cash value and retain your life insurance protection. Although your death benefit is reduced by the amount of your loan, you can pay back your loan over time. If you decide to place a loan you will be required to pay interest on the loan at the rate shown in your policy.

Other options which may be available to you include reduced paid-up insurance, extended term insurance or a premium loan.

If you choose to surrender your policy, the policy "owner" and "irrevocable beneficiary" if applicable, must complete the Policy Loan, Surrender or Nonforfeiture Request Form and return it to us.

Click here to access the form.