I have a whole life policcy for 25 years, my cash value is built up to $300,000, and my total death benefit is around 1 million. I want to borrow money from the bank, from the total death benefit instead of cash value because I can borrow more money with the total death benefit. Does anyone know if I can do that with any bank? Just like a Home Equatiy Loan, the bank will hold my policy and I have to pay the interest that I borrowed. Does anyone have any experience on that?If you do, please explain to me what you did. thank you
2006-12-19
15:51:37
·
5 answers
·
asked by
elainang2006
2
in
Insurance