Can you transfer money you have paid into one insurance policy to another?

Question

i have been paying a joint life policy for 4 years its for my house we are selling our house and are not buying another at the moment so wondered if you could transfer it to another life policy or do you just loose what you have paid.

Answer 1

The policy was to cover any outstanding mortgage on the property if you died so you can keep in on to cover another mortgage. If you stop paying it it will be cancelled no refund.

Answer 2

If it was credit life or term life, you lose the money.  If it was whole time, you can take the cash value, which may be more or less than what you paid.

Answer 3

If the insurance was strictly life insurance and not somehow tied to your mortgage you can just keep the policy.

Who is the beneficiary? Someone you named or the mortgage provider?

You may be able to just keep the policy and not have to change anything.

Is the insurance decreasing in value or level?

More details are needed.