Is A Loan From A Life Insurance Policy Taxable?

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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Is a loan from a life insurance policy taxable?  No, loans do not create a taxable income situation which is why they are used by those who own cash value policies. A policy loan is a great tool to have at your disposal. Usually in a few days money can be wired into your account, which is great when you need money fast. You don't have to ask permission, state your case as worthy for the need, you just call or email and it's done.
    Answered on May 10, 2013
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