Is it Wise to Borrow Against a Whole Life Insurance Policy?

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Is it Wise to Borrow Against a Whole Life Insurance Policy? – This is a place for the community to provide tips and advice on Is it Wise to Borrow Against a Whole Life Insurance Policy?. This topic was created by Firefli and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - Cash From Your Life Insurance

Published: 9 years, 5 month(s) ago | Submitted by lexplorateur | permalink

If you bought a whole-life insurance policy when your kids were still in pull-up pants, you've probably built up a sizable stash of cash. And if you're heading into retirement with a decimated investment portfolio, a mortgage and increased medical expenses, that cash in your policy may be more useful now than later -- especially if your loved ones don't need the death benefit after you're gone.
Tags: whole life insurance, cash value life insurance, Sandra Block, universal life, 1035 exchange, Genworth, Northwestern Mutual, Lifeline Program, Habersham Funding

For further reading: http://www.kiplinger.com/article/insurance/T034-C000-S002-cash-from-your-life-insurance.html ^[1]

Tip 2 - How to Make Money from your Life Insurance Policy - The Simple Dollar

Published: 9 years, 5 month(s) ago | Submitted by Amy Vargas | permalink

Did you Know that Some Life Insurance Policies Accrue a Cash Value? Learn More About Using Life Insurance as an Investment.

For further reading: http://www.thesimpledollar.com/life-insurance-investing/ ^[2]

Tip 3 - Understanding Life Insurance Loans

Published: 9 years, 5 month(s) ago | Submitted by stewart collins | permalink

A loan against the cash value of your life insurance isn't the best way to raise money – but sometimes it's the best choice you have. How to decide.
Tags: life insurance loans,life insurance,savings & loans

For further reading: http://www.investopedia.com/articles/personal-finance/121914/understanding-life-insurance-loans.asp ^[3]

Tip 4 - How can I borrow money from my life insurance policy?

Published: 9 years, 5 month(s) ago | Submitted by Robin Prior | permalink

Capitalize on the cash value of your whole life insurance policy and learn the details of how to borrow money from your life insurance.
Tags: credit,life insurance,policy loan,personal loan,lending & borrowing

For further reading: http://www.investopedia.com/ask/answers/111314/how-can-i-borrow-money-my-life-insurance-policy.asp ^[4]

Tip 5 - Is Repayment Required When Borrowing Against a Whole Life Insurance Policy?

Published: 9 years, 5 month(s) ago | Submitted by Jacob Rasmussen | permalink

If you bought a whole life policy, it could be growing cash value. This is money you can use while you are still alive. You access this money by taking a loan from your policy. One nice feature about ...

For further reading: http://budgeting.thenest.com/repayment-required-borrowing-against-whole-life-insurance-policy-25718.html ^[5]