What Can You Do With a Whole Life Insurance Policy Loan?
People often ask us what they can do with their whole life insurance policy loan – the answer is, just about anything! The growth for most college savings plans are tied to market risk, while student loans saddle the graduate with debt. With a whole life insurance policy strategy, you know just how much money you’ll have for college tuition. You can fund your policy with money that would have gone into a retirement plan – then take regular income while the policy continues to grow through interest and dividends. Plus, enjoy the security of knowing the surviving spouse receives a tax-free death benefit. Financial emergencies can happen anytime, to anyone. But you can access cash quickly and easily with a policy loan – it’s tax-free and you pay it back when you want. For more information on how to become your own source of financing, give us a call or visit our website today.
Donald G Turnbull
Financial Advisor, Investment Advisor Durham Region
Be Your Own Banker