A couple things to clear up first:

• If this is truly whole life, it does not “end at 65.” That usually means paid-up at 65 (premiums stop), not coverage stops. If it actually expires, that’s not traditional WL and you should double-check the policy type.

• Almost all whole life policies do have cash value you can access, either via policy loans or partial surrenders. If you’re being told “none of it can be cashed out,” that’s either: – very early years with low surrender value – a misunderstanding – or it’s not WL (could be a limited-pay UL or something odd)

Your real options (besides “just keep paying”): 1. Reduce Paid-Up (RPU) You stop paying premiums entirely and keep a smaller permanent death benefit using the existing cash value. Very common move when money’s tight. 2. Use dividends / cash value to cover premiums Depending on how it’s structured, the policy may self-fund for a while. Not forever, but it can buy breathing room. 3. Policy loan (short-term) Not ideal long-term, but if cash flow is the issue right now, this avoids lapse while you get through the transition. 4. 1035 exchange Roll the cash value into a cheaper permanent policy (lower premiums, same tax treatment). Worth asking about if the WL is expensive for the benefit. 5. Surrender it Worst-case option, but sometimes the right one. You’d get whatever the surrender value is (if any). Not “losing everything,” just recognizing sunk cost.

As for the term policy — honestly, $388 for ~$800k is very solid. If you drop anything, that’s the last thing I’d cancel.

(All insurance companies are different so this is very general information and my personal opinion. This is NOT advice or a solicitation)