Insurance part 1 - disability and life insurance with Joe & Kristen Fazio
beyond MD with Dr. Yatin Chadha
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How to Make Sure Your Insurance Policy Is Well Funded
There will be an interest charge, but surprisingly a lot of people may not be aware, but there could be a tax on the loan as well. So that's if you borrow the money directly from the policy from the insurance company. The other approach is as using the policy as collateral, you take it to a bank and they will loan you money based on the strength of the policy. I think one of the things that concerns me is the government's appetite for taxes. There'll be a greater propensity going forward to start shutting more loopholes. And this could be viewed as a strategy meant for the wealthy and the government doesn't like that. But who knows I'd rather not take a risk
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