Yes, you can cash out the cash value from a universal life insurance policy. Universal life insurance policies have a cash value component that grows over time. This cash value can be accessed by policyholders through partial withdrawals or by surrendering the policy entirely. However, it is important to note that withdrawing the cash value may have tax implications and can reduce the death benefit of the policy. Before making any withdrawals, it is advisable to consult with your insurance provider or financial advisor to understand the potential impact on your policy and overall financial plan.