The Difference Between Whole Life and Universal Life

Like a 401k, you're actually paying into a non-taxable and so it's not deductible under any circumstance. This is different because it's just a loan. It's going back to the insurance company, it's not going into your account. If you use that money for business, real estate, investing, then it's tax, it's actually deductible as that type of expense. So I think that's an important point.