Can You Borrow From A Term Life Insurance Policy?
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63333 POINTSview profilePeggy MaceMost of the U.S.Term life insurance does not have any cash value, so it is not possible to borrow from a Term life insurance policy. Term life insurance is "pure protection" that only covers financial loss from death, and does not provide the options for accumulating cash value like permanent life insurance does.Answered on May 14, 2013flag this answer
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaTerm life insurance has no cash value, so there’ nothing to borrow. But as personal property, an existing term life insurance that is convertible to permanent life insurance for older insured may have the potential to be sold in the life settlement market for cash.Answered on May 14, 2013+01+1 this answer
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