What happens if you stop paying your whole life insurance policy?

If you stop paying your whole life insurance policy premiums, a number of different things could happen. One possibility is that you will be provided with a paid-up term life insurance policy. This policy will generally be based on the amount of money that you have already paid into the whole life insurance. The benefit of the insurance will be less than what you would have received with the whole life insurance. In some cases, the life insurance company will give you the cash value of your policy and allow the policy to lapse.

For more info, read How to Cash in Your Whole Life Insurance Policy.