Which of the following is an option for accessing cash value from a life insurance policy?

Accessing cash value from a life insurance policy can be accomplished through several methods. Surrendering the policy involves fully canceling it, which results in receiving the cash value minus any surrender charges. This provides immediate access to cash but means the policy will no longer be in force.

Borrowing against the cash value allows the policyholder to take a loan using the accumulated cash value as collateral. This approach enables access to funds without losing the policy and is often a preferred method, as it allows the policy to continue to provide death benefits.

Using a living trust is not a direct method for accessing cash value. A living trust can hold insurance policies and provide benefits upon death, but it does not facilitate immediate cash access to the policy's cash value during the policyholder's lifetime.

Given the options, the correct answer encompasses the methods that directly allow access to cash value, which includes both surrendering the policy and borrowing against it. Therefore, selecting all options is warranted, as it recognizes the diversity of mechanisms available for utilizing the cash value in a life insurance policy.