Sentences with phrase «generally borrow against the cash value»
While your monthly premium usually won't change with whole life, you can generally borrow against the cash value of your policy with favorable terms.
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Permanent coverage has the potential to build cash value, which means that, generally, the premiums you pay (1) grow with interest; (2) can, in some cases, be borrowed against; and (3) on indexed and variable policies, can be placed within investment accounts.
You may also consider borrowing against the cash value, and these loans are generally low interest rate loans.
It generally takes 12 — 15 years before you can take advantage of the the cash value accumulation portion, but you can borrow against it.
Generally, when you borrow against your life insurance policy it will reduceyour cash surrender value as well as the current death benefit.