Sometimes borrowing against your retirement savings or house can make sense.
While you can
sometimes borrow against your life insurance policy or receive living benefits from consistently a paying your premiums, there is no such benefit from a burial insurance policy.
Not exact matches
Otherwise, it is just a number that the banks will
sometimes let you
borrow against.
You can also terminate the policy (or «surrender» it) if you want to, and get part of the accumulated funds, or you can
sometimes borrow money
against your policy's cash value.
Withdrawing money early from your retirement accounts — that is,
borrowing against your 401k or IRA — carries heavy financial consequences, but
sometimes the benefit outweighs the cost of taking out a 401k loan.
Sometimes that cash value can be
borrowed against or used to cover the cost of your premiums.
A home equity loan,
sometimes referred to as a second mortgage loan, usually allows you to
borrow a lump sum
against your current home equity for a fixed rate over fixed period of time.
Community college students
sometimes feel compelled to do so in order to ensure they qualify for a certain amount of financial aid, but if you end up dropping courses, this actually works
against you, because you'll need to
borrow more to re-take those courses in the future.
Sometimes that cash value can be
borrowed against or used to cover the cost of your premiums.
You can also terminate the policy («surrender») if you want, and get part of the accumulated funds, or you can
sometimes borrow money
against your policy's cash value.