1 Such loans increase the chance a policy will lapse, reduce the ultimate death benefit, and could result in a tax liability if the insured dies before the loan is repaid. (blog.massmutual.com)
It's not as good as a dollar for dollar reduction in your tax liability, but it can reduce how much you owe over all. (freefrombroke.com)
The downside is that a withdrawal or a loan can reduce your death benefit, or result in a tax liability if you don't follow guidelines on repayment. (allstate.com)