How to Borrow From the Cash Surrender Value of a Life Insurance Policy

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You can borrow or loan from a life insurance policy in a very specific way. Borrow from the cash surrender value of a life insurance policy with help from a dedicated insurance professional in this free video clip.

Part of the Video Series: Insurance Help
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Video Transcript

Hi, my name is Doug Levi. I'm principal agent and owner of Strategic Insurance Services and today I'm going to talk to you about how to borrow or loan from a life insurance policy. First thing I'm going to tell you to do is you want to call your agent or the carrier directly and you want to find out the terms and details on that. What's their process? Do they require and paperwork signed? Most likely they will. From there you really want to understand what are the terms of the loan, with life insurance and you do have the ability to loan against the cash value that sits in that policy. Often times there is going to be an interest rate while the policy is on loan so you need to be aware of that and often times you need to pay back a minimum percentage of that or a minimum amount each year to keep the policy in force. Life insurance is a great tool to protect your family and to also help build your financial future. The cash value portion of it is very handy in times of an emergency or times of need. So I would often recommend to our clients to make sure they understand their options before they do any of these things. The best way again in some way to do that is to call a carrier directly or certainly your local insurance agents to find out more details. This has been how to borrow from a cash value life insurance policy, you can get more information on life insurance at: My name is Doug Levi, I'm principal agent and owner of Strategic Insurance Services.


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