Life Insurance Distributions

[austin3515]

Have a qualified profit sharing plan with life insurance. Plan is terminating and we want to provide participants with some information regarding the impact of

a) taking a cash distribution equal to the cash surrender value; and

b) taking a distribution of the actual life insurance policy, and continuing the premium payments outside the plan.

Anyone have any good write-ups? We have the EOB's excellent section on the topic, but want something in plain english that can be distributed to participants.

Anything you can share is appreciated!