Owner/ Financial Planner, Laura Knight Insurance Agency, PLLC, Montana
Loan features in a life insurance policy depend on the length of the policy and the cash value that has been built up. You can borrow against the cash value and continue to earn interest on your policy and make payments with a low interest rate to replenish the policy.
You may also have a life insurance policy that allows you to borrow from the death benefit and take it as a loan that does not have to be paid back. Your cash value will continue to build and increase the death benefit.
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You may also have a life insurance policy that allows you to borrow from the death benefit and take it as a loan that does not have to be paid back. Your cash value will continue to build and increase the death benefit.