How Does A Loan On A Life Insurance Policy Work?

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    David RacichPRO
    Fountain Hills, Arizona
    There are several policy loan provisions used in life insurance contracts. Participating whole life insurance policies use spread loans and direct recognition loans. Current Interest Rate, Index and Variable Universal life insurance contracts use zero net cost loans, wash loans, spread loans and participating loans – both fixed and variable loans. Keep in mind that the current company practice of loan charges may be different from the contractual maximum they could charge. So it’s important to purchase life insurance contracts with loan provisions that are favorable. After all it is your money. And we can help with that.
     
    Answered on May 13, 2013
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