Can you collect cash from a life insurance policy after three years?

Clearly, if the insurance policy is in force after three years, and the insured dies from a cause that is not excluded, the beneficiaries may collect, even after only 3 years.

However, if what you are asking is whether the owner of the policy can collect some or all of the cash value from a whole life policy after three years, the analysis is different. Even assuming that the policy has stayed continuously in force during that period, you must understand that during the early years of a whole life policy, cash value accumulates slowly. Therefore, as a practical matter, there will probably not be much to collect/borrow.