In Canada, he amount you can borrow on your life insurance policy can be as much as 90% of the cash surrender value. Your insurance agent / broker should be able to get the specific information for you.
You should be aware there maybe tax consequences if you borrow in excess of the adjusted cost base. You may want to explore using the policy as collateral at a bank.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
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You should be aware there maybe tax consequences if you borrow in excess of the adjusted cost base. You may want to explore using the policy as collateral at a bank.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.