So you are
gaining access to your cash value equivalent that has accumulated via premium payments and interest and using it for whatever you choose.
With a surrender, you can
gain access to the cash value by terminating the policy altogether, but you incur the taxes due on the gains within the policy.
Here, too, policyholders can
gain access to the cash value in the form of either withdrawals or loans.
Not exact matches
Therefore, if you use policy loans
to access your
cash value you may never have
to pay taxes on your
gains.
But what you
gain is insurance that acts as an asset and that will grow in
cash value and death benefit over time and allow you easy
access to the funds for investments, paying off debt, or retirement planning.
LoanMart has a fast and simple solution for quick
cash needs — an Auto Equity Loan that allows a borrower
to gain access to money in a relatively short amount of time by using the
value of a paid off automobile as collateral.
Our Car Title Loans is a fast and simple solution
to fit your emergency
cash needs that allows you
to gain access to cash in a relatively short amount of time by using the
value of your paid off automobile as collateral.
This is accomplished by
gaining access to a portion of your universal life policy
cash value.
Just like the other permanent life insurance policies, you will also be able
to gain and accumulate
cash value which you can
access later on if you need it.
But what you
gain is insurance that acts as an asset and that will grow in
cash value and death benefit over time and allow you easy
access to the funds for investments, paying off debt, or retirement planning.
Therefore, if you use policy loans
to access your
cash value you may never have
to pay taxes on your
gains.
This creates tax - free
access to your
cash value and all
gains on the
cash value.