It’s quite possible that an insurance policy will no longer be needed and normally there would be two options to consider. The policy holder can just wait and let the insurance policy to lapse. Another option is to get the policy in cash but it will only be in its surrender value. At this point, the policy holders find themselves in a position where they feel powerless and that the insurance providers are the ones who have power over them. The surrender value would only be just the amount of premiums paid less the cost of insurance protection minus the tax benefits.