A low-cost source of credit may be your whole life insurance policy.

Question

Quizplus · Accepted Answer

Whole life insurance policies have a cash value component that grows over time, which can be borrowed against at a lower interest rate than traditional loans. This can make it a cost-effective option for accessing credit. However, it's important to consider the potential impact on the death benefit and consult with a financial advisor before taking out a loan against a life insurance policy.

A Low-Cost Source of Credit May Be Your Whole Life