Can I Take Money Out Of My Life Insurance Policy?

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   Peggy Mace

   Most of the U.S.

   If you have a permanent life insurance policy that has cash value, you may be able to take money out of your life insurance policy. You can do it in the form of a loan, which allows you to repay the money with interest and keep your life insurance coverage intact. Or you can possibly take it as a partial surrender which would reduce your total coverage. Contact your agent or the company that your policy is placed with to find out your options.

   Answered on June 21, 2013

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