Loans

Discussion in 'Credit Talk' started by Nancy Klin, Jan 7, 2001.

  1. Nancy Klin

    Nancy Klin Guest

    What do you folks know about getting loans against an insurance policy? How does one do this, and what is the process?
     
  2. creditwork

    creditwork Well-Known Member

    Contact your insurance agent. If you have cash value in your insurance you can borrow against it. Keep in mind, in case of death the benifits will be reduced by the amount of the oustanding loan.

    http://www.creditsense.com
     
  3. Nancy Klin

    Nancy Klin Guest

    How I know if I have cash value? And does my credit rating effect this?
     
  4. creditwork

    creditwork Well-Known Member

    If you have a whole life insurance that is a few years old, you probably have some cash value. Insurance policy loans do not show up on your credit report.

    http://www.creditsense.com
     
  5. Nancy Klin

    Nancy Klin Guest

    I have one that is six months old.
     
  6. creditwork

    creditwork Well-Known Member

    Probably no cash value. Consult with your insurance agent.

    http://www.creditsense.com
     

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