Can You Borrow From Veterans Group Life Insurance?

1. 

   63333 POINTS

   view profile
   Peggy Mace

   Most of the U.S.

   Unfortunately, Veterans Group Life Insurance (VGLI) is a lifetime renewable Term policy without cash value. Therefore, you would not be able to borrow from Veterans Group Life Insurance because it does not have any cash value or pay any dividends.
   

   Answered on June 6, 2013

   flag this answer
2. 

   10968 POINTS

   view profile
   Tim Wilhoit

   Owner, Your Friend 4 Life, Brentwood TN

   In order to borrow from any life insurance policy, it must be a permanent or cash value policy. Unfortunately, group life insurance in almost all cases are term life insurance and have no cash value. Therefore, there is nothing to borrow from, just a death benefit at the insureds death. This is a great lesson as to why people should always purchase and own their own life insurance policy and view group life insurance as a bonus to heir beneficiaries. Very sorry to be the bearer of bad news. Good luck!

   Answered on August 6, 2015

   flag this answer
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.