Q&A Topics

Thursday, March 27, 2014 4:44:11 PM

Can I ever borrow money from my life insurance policy?

With certain types of permanent life insurance policies, you build up cash value that you can access as needed. However, you are actually borrowing against your cash value and if you don’t repay it, the loan is deducted from the death benefit (along with any interest due) that your beneficiary can receive. 

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Laura Adams is a personal finance expert, award-winning author, and consumer advocate. As Senior Insurance Analyst, she represents insuranceQuotes in the media and works to make sure consumers protect their financial futures by having the right kinds of insurance.

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