I am new to the forum and this is my first post. I have spent many weeks reading through this forum, other sites, and books. I must say that the agents who practice ethical business are deserving of credit and my respect. The amount of knowledge is staggering and I see that years can be spent learning this trade. I come to you today because I am curious about the limitations of loans on life insurance. I understand that this cannot be done with Term and that all loans have their own terms and conditions.
Are you aware of policies that allow one to take a loan out immediately after opening the policy?
Do all policies require the loan to be from cash value?
Have you heard of individuals using their policy as an investment tool? How?
(I've come across some users speaking about investing with insurance, but it always appeared to be limited to stocks. I may have been misinterpreting their words.)
Have you heard of individuals using their policy as collateral for a loan from another insurance company or lender? Are you aware of the steps taken?
I'm a white/black male in great physical shape. I'm 22 and have a clean bill of health. I was recently checked by my personal physician for sports. I don't smoke and drink little. If my questions are too vague or misleading I will gladly try to reword them. If anyone has guidance in any way, I would appreciate it. Thank you for your time.
-BB Jones
Are you aware of policies that allow one to take a loan out immediately after opening the policy?
Do all policies require the loan to be from cash value?
Have you heard of individuals using their policy as an investment tool? How?
(I've come across some users speaking about investing with insurance, but it always appeared to be limited to stocks. I may have been misinterpreting their words.)
Have you heard of individuals using their policy as collateral for a loan from another insurance company or lender? Are you aware of the steps taken?
I'm a white/black male in great physical shape. I'm 22 and have a clean bill of health. I was recently checked by my personal physician for sports. I don't smoke and drink little. If my questions are too vague or misleading I will gladly try to reword them. If anyone has guidance in any way, I would appreciate it. Thank you for your time.
-BB Jones
