If it helps, you can
compare policy loans to a home equity line of credit (HELOC) on your house.
Not exact matches
But you need to either pay interest out - of - pocket annually or carefully monitor the size of the
loan as
compared to the
policy's cash value.
And, use of APR may be most helpful when
comparing loans of similar term, but it's always a good idea to also ask about the fees, the total dollar cost of the
loan, and prepayment
policies.
But you need to either pay interest out - of - pocket annually or carefully monitor the size of the
loan as
compared to the
policy's cash value.
Life insurance is a minor added expense for most borrowers, and the cost of the
policy is relatively insignificant when
compared to the interest payments for the
loan.
As an example, a properly structured cash value whole life insurance
policy that is purchased from a mutual company, is one that has tremendous liquidity, low cost (majority of the cost is buying lifelong level insurance — not to be
compared to term), no tax on the growth of the account, tax free
loans, tax free withdrawals (up to basis), tax free to survivors, no contribution limits, no required withdrawals, is free from creditors, and has minimum guarantees.
Compare that to the potential value they could realize if they just surrendered the
policy or took a
loan out on the
policy (both affected by the cash value of the
policy).
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for ICICI Pru Guaranteed Wealth Protector and Bharti AXA Life eProtect Plus.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Metlife Bhavishya Plus and Sahara Pay Back.
One can
compare two
policies based on
loan availability for Canara HSBC Smart Future Income Vs Smart Wealth Assure.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for IndiaFirst Simple Benefit Plan and DHFL Pramerica eSave.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica Future Idols Gold Plus and Exide Life Secured Income Insurance RP.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for TATA AIA MahaLife Gold Plus and MET Pension (Par).
One can
compare two
policies based on
loan availability for Exide Life New Creating Regular Vs DHFL Pramerica Rakshak Plus.
One can
compare two
policies based on
loan availability for Smart Lifelong Plan Vs Wealth Enhancement Ace.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Bharti AXA Life Secure Income and TATA AIA iRaksha Supreme.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Star Union Dai ichi Premier Protection Plan and LIC Jeevan Lakshya.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for IDBI Federal Loansurance Group Insurance Plan SP and Future Generali Pension Guarantee.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica Family Income and SBI Life Smart Swadhan Plus.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Reliance Group Gratuity Plus Plan and SBI Life Sampoorn Suraksha.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica U Protect and Aviva Group Gratuity Advantage.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Metlife Monthly Income Plan and LIC New Jeevan Mangal.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Max Life Guaranteed Lifetime Income Plan and Kotak Preferred eTerm Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for IndiaFirst Group Credit Life Plan and BSLI Bachat Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for LIC New Money Back Plan 20 Years and IndiaFirst Cash Back Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Future Generali Pension Guarantee and Reliance Increasing Income Insurance Plan.
One can
compare two
policies based on
loan availability for Life Shield Platinum Vs Aegon Life Easy Protect.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Kotak Secure Return Superannuation Plan and Future Generali Care Plus.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for TATA AIA Smart Growth Plus and HDFC Life Single Premium Pension Super Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Shriram New Shri Life Plan and DHFL Pramerica Flexi Cash.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Aviva iLife Secure and Aegon Life Guaranteed Growth Insurance Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for LIC Single Premium Endowment Plan and LIC Jeevan Labh.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for SBI Life Smart Swadhan Plus and Edelweiss Tokio GCAP.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Aviva New Group Leave Encashment Plan and TATA AIA Group Total Suraksha.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Birla Sun Life Protector Plus Plan and Pension Plus.
One can
compare two
policies based on
loan availability for Niyamit Sanchay Suraksha Vs Smart Pension Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Canara HSBC Smart Future Income Plan and Metlife Loan and Life Surak
loan, surrender value, tax benefits, death benefits, etc. for Canara HSBC Smart Future Income Plan and Metlife
Loan and Life Surak
Loan and Life Suraksha.
One can
compare two
policies based on
loan availability for Exide Life Mera Ashirvad Vs DHFL Pramerica Rakshak Gold.
One can
compare two
policies based on
loan availability for Bharti AXA Elite Secure Vs Money Multiplier.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Edelweiss Tokio Easy Pension and Kotak Classic Endowment Plan.
One can
compare two
policies based on
loan availability for Money Multiplier Vs Invest Once.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for IndiaFirst Group Credit Life Plan and DHFL Pramerica Smart Assure.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Shriram New Shri Vidya Plan and Birla Sun Life Vision Endowment Plus Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Cashflow Protection Plus and Reliance Super Endowment Plan.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Reliance Pension Builder and Shriram Group Term Life Insurance.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica Family First and Aegon Life iTerm Plan.
One can
compare two
policies based on
loan availability for Bluechip Savings Plan Vs Smart Swadhan Plus.
One can
compare benefits of both
policies based on aspects like availability of
loan, surrender value, tax benefits, death benefits, etc. for Kotak Premier Pension Plan and ICICI Pru Group Immediate Annuity Plan.
One can
compare two
policies based on
loan availability for IDBI Federal Loansurance Group Vs IDBI Federal Retiresurance Group.
One can
compare two
policies based on
loan availability for Ace Investment Vs Exide Life Golden Years.