Two mortgage quotes with identical APRs may
entail you
paying the same total over the life of the loan, but the fact is that, if one quote requires you to
pay points, that means you would have to
pay money sooner than with a mortgage loan without
points.
The bad news, however, is that some policies have such significant loans that it's not affordable or economically feasible for the policyowner to keep the policy going, which may
entail paying ongoing premiums, and life insurance loan interest (to keep the policy loan from further compounding to the
point it forces the policy to lapse), or even
paying additional cost - of - insurance charges to keep enough cash value in the policy to remain in force (in the case of universal life policies).