Can I Take A Loan Against My Life Insurance?

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   Neil Steinman

   Owner, Orange County Health & Life Insurance,

   You can take a loan against your life insurance if you have cash that has accumulated in your policy. The ability to borrow cash is one of the advantages of having a policy such as whole life or universal.  But  there are certain things you should consider such as interest that may accumulate, the fact that if you don't pay the loan back, it will be deducted from the death benefit, etc.

   Answered on June 15, 2013

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