Can You Borrow From Group Life Insurance?

  1. 0 POINTS
    Contact Me
    David RacichPRO
    Fountain Hills, Arizona
    Group life insurance is not an individual ownership policy, so unless the plan offers a loan provision the answer is no. Additionally, the vast majority of group life insurance plans use term life insurance, so no cash to borrow there as well. Group life insurance is base benefit coverage for business employees.
      
    Answered on May 20, 2013
    +0
    1 Thumb up 0
    +1 this answer
    flag this answer
  2. 11783 POINTS
    Contact Me
    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Can you borrow from a group life plan? Usually the answer is no because most group life is term life which has no cash values to borrow from. There may be a few cases where a group plan is set up with individual cash value life policies which could allow loan provisions, but very rare.
    Answered on May 20, 2013
    +1
    1 Thumb up 0
    +1 this answer
    flag this answer
    3. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>