if its a cash value policy contact the companies customer service line.
No. Group life does not belong to you.
No. To the best of my knowledge, veteran's life insurance has no cash value.
Absolutely not, you can only make a legitimate loan through a bank
Take a look at your policy paying attention to the illustration in the guaranteed column. This will show you how much money you will have to borrow against in a given year. When there is enough you can borrow against it. But be careful!
yes, as long as the policy is still in force you can borrow agains it
No. Term life insurance has no "surrender value", so is no good as collateral. The insurance that you might be able to borrow against is "whole life".
No. Group life does not belong to you.
No. To the best of my knowledge, veteran's life insurance has no cash value.
Absolutely not, you can only make a legitimate loan through a bank
Take a look at your policy paying attention to the illustration in the guaranteed column. This will show you how much money you will have to borrow against in a given year. When there is enough you can borrow against it. But be careful!
No to avoid estate tax penalty
The key difference between life insurance and whole life insurance is that regular life insurance carries a fixed term while whole life insurance covers one's entire lifetime. Whole life insurance also accumulates a cash value that one can borrow money against.
Probably not. You need to contact the company and ask your question there.
yes, as long as the policy is still in force you can borrow agains it
If your life insurance policy has cash value, you can borrow from the cash value inside. If you have a term policy with an accelerated death benefit rider then you may be able to borrow against the death benefit if you have a terminal illness.
No because it is not a cash value policy.
no