Taking out a loan on your life insurance policy can give you quick access to cash, but only if you have the right type of policy. You can easily borrow against the cash value of a whole life insurance policy. But what about the interest rates and repayment terms? What are the other benefits of using a life insurance line of credit compared to borrowing from banks and other financial institutions? People tend to shy away from things they are not familiar with. However, understanding how the IBC line of credit works might help you broaden your options.
In today's conversation, Russ, Joey, and the financial freedom coaches talk about the following topics related to lines of credit:
- Why should you consider using a life insurance line of credit instead of obtaining bank loans?
- Creative ways to use your life insurance as a source of funds for investments
- Other benefits of using a life insurance credit line aside from easy access to cash
Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.
This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.
The hosts may have a financial interest in the programs or services mentioned in this episode.
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