Trying to take money out of VUL policy

Hi all,
I hope this is the right place to ask this. Back when I was a dumb financial idiot (teenager), I thought I had an opportunity to invest on
mutual funds at the time. But what I didn't know was that this whole time, I was on a VUL.
I already have almost $2k in there, I know its not much, but I want to redirect it to something else, like buying some stocks. What I'm asking is, since this is taking out of my check after tax, can I just request this money taken out without any penalties?
What's the best way to get out of it? And any advice on where I should go with it?
I'd thought I'd ask here first before I consult those guys that sold me
this.
dave
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is300onyx wrote:

Dave;
If you own a VUL, then any funds currently in the Cash Value Account belong to you, and if withdrawn, would not be Income Taxable. HOWEVER, if you only have $2,000 in the contract, then I would assume that it is a relatively new contract, and you would be subject to HIGH surrender charges. I suggest that you contact the company DIRECT, and find out EXACTLY what the CURRENT value is, and what the NET value to you would be.
Cal Lester CLU
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Cal,
Thanks for the reply. Actually, the super LOW $2k accumulated began during the month of July, 1997. I'm not sure if <8yrs is considered relatively new. But to follow along with my other questions, you pretty much answered them. Its making more sense to me.
Regards, Dave
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is300onyx wrote:

My pleasure;
Since the contract is almost 8 years old, you should be nearing the end of the "surrender charge "period. Look INSIDE the contract for that time span.
However, keep in mind, that as the ownership of the contract lengthens, as the "surrender charge" decreases, the contract attains more value. The PROBLEM remains though in BOTH the on-going monthly costs, as well as the actions of "the market". Cal Lester CLU
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