Can You Borrow Against Your Life Insurance?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Cash value life insurance accumulates tax deferred as long as the policy is kept in force for the life of the insured. The policy owner can borrow cash values, generally based on the surrender cash values. All cash value life insurance companies charge interest for policy loans: zero net cost loans, wash loans, spread loans, direct recognition loans and participating loans.

   Answered on August 20, 2013

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