In this video, Michele McFie addresses an important question: what happens if you pass away while having a policy loan outstanding on your life insurance?

Many people wonder how the loan affects the Death Benefit. Michele explains that, despite the loan, the insurance company will still pay the guaranteed Death Benefit to your beneficiaries. This is one of the advantages of having participating whole life insurance, as it ensures your family is still taken care of, even with a loan against the policy.

Key Takeaways

• If you have a policy loan, the Death Benefit is still paid out.
• The loan balance is deducted from the Death Benefit, but the guaranteed portion is unaffected.
• Participating whole life insurance offers peace of mind, even when using policy loans.

Schedule Strategy Session »