This is where the correctly - structured policy's benefit of underlying continued growth even when you've borrowed
against the cash value comes into play.
Not exact matches
Borrowing
against your policy's
cash value is very simple, you just fill out a form, and typically
comes with quite low annual interest rates.
Whole life policies offer living benefits, including tax - free dividends that may accrue (referred to as the policy's
cash value); you may even be able to borrow money
against the
value of a whole life policy if there
comes a time that you decide you need to do so.
Most Universal Life policies
come with an option that allows the policyholder to take out a loan / borrow money
against the
cash value of their policy.
As long as you have a policy with the insurance company that has sufficient
cash value to borrow
against, you won't have to undergo a credit check and all the other hassles that normally
come with taking out a loan.
Borrowing
against your policy's
cash value is very simple, you just fill out a form, and typically
comes with quite low annual interest rates.