Can You Take A Loan From Your Life Insurance Policy?

1. 

   0 POINTS

   

   Contact David Racich Contact David Racich by filling out the form below

   
   Name
   

   
   Email
   

   
   Phone Number
   

   
   Message
   

   Please leave this field empty.
   

   Δ

   Contact Me

   view profile
   David RacichPRO

   Fountain Hills, Arizona

   If you own a permanent life insurance policy that has accumulated cash values, you may be able to borrow money from it. Policy performance can vary and some policies surrender charge provisions may apply. And keep in mind that there are policy loans charges as well. The policy must be kept in force for the life of the insured or all policy loans of gain and internal policy loans will re-characterize as phantom income and taxed as ordinary income in the year of lapse or termination.
    

   Answered on June 20, 2013

   +0

   1 0

   +1 this answer

   flag this answer

   view more answers by David Racich
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.