Borrowing Benefits from Cash Value
In addition to being an estate planning solution, cash value life insurance offers unique borrowing opportunities. If you have made premium payments for a permanent life insurance policy or policies over the several years, considerable policy cash value may result and offer an accessible asset to secure loans. Life insurance companies and certain banks provide such loans. Most policy owners are generally aware of the concept of borrowing cash from a policy, but there are important options and nuances to understand.