Borrowing Against Your Cash Value

If you have a Whole Life Policy, you can typically take a loan against the policy’s cash value at a reasonable interest rate. Your cash value will depend on how long you have had you policy and the size of your premium payments. Please consult your insurance agent or provider for your policy specifics. In most cases you can generate more immediate cash with a viatical settlement or, if available, an accelerated death benefit .

It is occasionally possible to use a life insurance policy as collateral for a commercial loan. However, borrowing from family or friends is generally easier and should cost less in the long run.

Term Policies do not have any cash value, so no loans are available. For other options, Click Here!