How Does It Work?

• Clients can access the cash value within a whole life insurance policy through policy loans, which provide access to money that has been growing tax-deferred, tax-free and without penalties. When a client borrows against a whole life policy, he or she is actually borrowing from the insurance carrier, with a lien against the policy. This means that clients are never subject to a credit check or set a repayment schedule. Any amount that is not repaid back into the policy will be deducted from the cash surrender value. If the client passes away without the amount being paid back, the amount will be deducted from the overall death benefit.