- Withdrawals – Generally, you can withdrawal funds from the cash value of your policy tax-free up to the amount you have paid in premiums to date.
- Loans – You have the option to borrow against the cash value of a permanent life insurance policy. You will be charged the interest rate state in the policy. Payment of the loan is optional. However, if you fail to make payments, the death benefit of the policy will decrease.
- Surrender – When you surrender a life insurance policy, the entire cash value is withdrawn. If you do this, you cancel the policy entirely. Therefore, this is only recommended as a last resort after exhausting other options.
|Chris Rice, CFP®, CPA/PFS Executive Benefits & Financial Services Consultant email@example.com 717-475-7351||Denny Lankford, CLU, CHFC Senior Vice President firstname.lastname@example.org 717-505-3135|