How Much Can I Borrow from My Whole Life Insurance Policy?

[VolAgent]

If they are in receivership, I doubt they will let you make a policy loan.

 

[WinoBlues]

If they are in receivership, I doubt they will let you make a policy loan.

I am guessing he was joking about that.

 

[LGilmore]

call the company and ask the question as you've posted here.

Ask what's the max loan you can take and still maintain the premium offset, while paying any loan interest externally. They should be able to help you.

 

[WinoBlues]

Which company is it?

My policy is with John Hancock. I have called the local office and the national office, without much luck. I waited 2 weeks for an inforce illustration that shows me my current dividend paid-up scale, with estimated values year-by-year up to age 100! Which doesn't answer my question, the same question I posted here on the forum. I simply want to know the maximum I can borrow without any out-of-pocket expense. Should I ask them differently? Maybe give them a loan amount, like $5,000, and work from there?

 

[Full Throttle]

Which company is it?

Look within the first 6 words of the post you quoted. Isn't that a little like asking someone walking out of the elevator, "where's the elevator?"

 

[WinoBlues]

Damn! never post while sober!

Look within the first 6 words of the post you quoted. Isn't that a little like asking someone walking out of the elevator, "where's the elevator?"

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OK. Send me an Email with your contact info. If you like, when we both have time, we can do a three way. You give them permission to talk to me. I will ask for what you want and make sure that they understand what you want. [email protected] I am not currently a Hancock agent.
Or if you are more comfortable with one of these other guys. I would be. Ask them for the same help. You may even find one that lives in your area. Where do you live?

My policy is with John Hancock. I have called the local office and the national office, without much luck. I waited 2 weeks for an inforce illustration that shows me my current dividend paid-up scale, with estimated values year-by-year up to age 100! Which doesn't answer my question, the same question I posted here on the forum. I simply want to know the maximum I can borrow without any out-of-pocket expense. Should I ask them differently? Maybe give them a loan amount, like $5,000, and work from there?

 

[VolAgent]

Damn! never post while sober!



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OK. Send me an Email with your contact info. If you like, when we both have time, we can do a three way. You give them permission to talk to me. I will ask for what you want and make sure that they understand what you want. [email protected] I am not currently a Hancock agent.
Or if you are more comfortable with one of these other guys. I would be. Ask them for the same help. You may even find one that lives in your area. Where do you live?

Careful, isn't AUI illegal in California? Rick might have to call the DOI on you, just ask Al! Of course, once he is elected Commissioner, he can do it all by himself.

 

[arnguy]

Wino, I can't believe you would suggest a menage a trois! Shame on you.