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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