How To Borrow Money From Life Insurance?

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    David RacichPRO
    Fountain Hills, Arizona
    Cash value life insurance accumulates tax deferred. You can access cash value life insurance via withdrawals to basis and policy loans of gain. There are rules to withdrawals of basic that govern the first 15 years of a life insurance policy, so be aware of it before withdrawing. Withdrawals of basis may be tax free as are loans provided the contract is kept in force for the life of the insured. Policy loans charge interest as well.
     
    Answered on June 29, 2013
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