The Ins and Outs of a Life Insurance Policy Loan

The Ins and Outs of a Life Insurance Policy Loan

Life insurance policies have evolved into complex financial instruments that no longer simply share risks between an insurance company and the insured. Policyholders now have more control over the policy, which they can use to satisfy new needs and desires. In times of need, a policyholder can use their life insurance policy as collateral to take out a loan issued by their insurance company – known as a policy loan. However, policy loans are one…

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How Many Retirement Accounts Should I Have?

How Many Retirement Accounts Should I Have?

Financial planning requires more than just diligently putting money away in a savings account and living a frugal lifestyle. Those who are serious about their financial well-being would be wise to invest their money in various retirement accounts and life insurance. Having a range of investments can help ensure financial security.

Data from Fidelity Investments shows that while some people are being smart with their finances and putting money away in 401(k) accounts, others are actually borrowing against them.

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