Should you borrow from your Life Insurance?

Should you borrow from your Life Insurance?

The debate over whether to borrow from a life insurance policy has been ongoing for years. Some swear by it, using policy loans for everything from home repairs to starting businesses. Others warn against it, arguing that policy loans can come with unexpected risks. So, what’s the right choice for you? The truth is, it depends.

Sometimes, borrowing against a life insurance policy makes perfect sense. At other times, there may be better financial tools to consider. In today’s episode, Tom and John break down when it’s a good idea to take a policy loan and when you might be better off exploring other funding options.

Key Takeaways:

• When borrowing from your life insurance policy can be beneficial.
• The potential risks and costs of policy loans.
• How to decide if a policy loan is right for your financial needs.

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