Borrowing Against Your Life Insurance Policy : EXPLAINED!

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Title	:	Borrowing Against Your Life Insurance Policy : EXPLAINED!
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Views	:	42 rb

I am already 44 Is startinga policy now going to be worth it, if I can't get enough money built up to be useful until I am 60?
Comment from : Ashaman Assemble

What type of life insurance policy do I need? I want to be able to burrow against the policy
Comment from : DeemTV

but how long do I have to have the policy to use it as collateral?
Comment from : MoneyMqdeMeDoIt

I have a $150 a month policy for death benefit 250,000 i want to use for real estate how long would it take for me to borrow against myself
Comment from : Francisco Colon

Hopefully this question doesn’t come off the wrong way But what is the benefit to borrowing from the cash value of the policy vs just using a savings account?
Comment from : Liquidphonic Lofi

which life insurance policy do you suggest I get, I am new married couple
Comment from : LORDS BEAT

Can you do this again but SLOWER
Comment from : Fueled By Discipline

Thanks for increasing my knowledge in personal finance and investment, I recently subscribed to your channel I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession My husband and I are both retired and debt-free, and we're living smart and frugal with our money Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it:
Comment from : Marty Edgar

Who gives the loan? The bank or the same company that gave the life insurance policy?
Comment from : account

its a great video! Thank you sir But I have a few question How the policy accumulate interest how interest works? and how dividend works?
Comment from : charles

Do work life insurance work
Comment from : AUSTIN ❷❶❺

Are you familiar with Military ServiceMember Group Life Insurance(SGLI)? Is it possible to take a loan from this policy?
Comment from : Trevante Arrington

Great video! Is it true that you are paying yourself the interest on the loan? Or does the interest get paid to the insurance company?
Comment from : John LeComte

Please I need to know more about how to use it in my county I need to understand how its done Would appriciate your help
Comment from : Koichi

Quick question - I want to use this method to get around 50-100k for a property renovation but I have never had life insurance … how long would I need life insurance before pulling out a number like this is possible
Comment from : James S

I'm still studying the topicbrI've got a few questions I will ask in numerical settingbrbr1) we are thinking of taking a life insurance loan to pay the bank loan we currently have How does interest work on this type of loan? I've been told the interest is paid to yourself not to the insurance company and just want to figure this part outbrbr2) we don't currently have a policy atm so we need a policy that has instant cash value to it to pay the house off would be 100k+ the only policy I've found that meets this is whole life Is this the only type or is there others?
Comment from : Phenofoxe

Cash in life insurance? Life insurance is an account? I thought it was insurance with a monthly fee for a set payout amount if you die
Comment from : ScienceGuy

You always say rental house but you have to remember the maintenance expenses behind it You dont really make money real state unless when you sell it when it appreciate Some time you loss money when some emergency maintenance show up
Comment from : Toti Riel

I want to know which insurance policy I need to purchase in order to do so
Comment from : darcy garrett

Who do you recommend to purchase a policy from???
Comment from : Maricle Robertson

Do you have to pay taxes on the interest or dividends?
Comment from : Politerudeboi

I would love to know more about this, as it is a very interesting financial vehicle I have a few questions that weren’t covered, does this have to be a whole/permanent policy or can term policies/term policies with a conversion option be used Also would you have to wait an Allred amount of time before you could borrow agains the payout for loans/mortgage etc and finally what are major risks to this ie I presume that death benefit pay out is reduced by how much you borrow against policy
Comment from : Alex Scott

Is a credit check done when someone borrows against their policy, and does it show on credit reports?
Comment from : Jennifer Marques

What happens if you don’t pay off your loan in a timely manner?
Comment from : Clark T

Do you have a minimum salary amount? I make 46k a year
Comment from : K A

Yes please reach out to me … I want more information
Comment from : JahJah Banks

NY Life is asking me for 55 is that competitive? If I take out $750K, what will be my monthly payments to pay off interest only? Hard to understand without a timeline for repayment what’s normal? Much thanks
Comment from : sfpelkey

Yo teach me inbox me, please
Comment from : SoGood

Any recommendations for a company for a life ins Policy
Comment from : Giovanni Sanchez

Hello,brbrAfter reading all of the comments prior, to my understanding;brWhen borrowing against my life insurance policy, you are only borrowing against the cash value (ie: what you put in and the interest accumulated over time), not your death benefitbrAlso, how is the interest compounded in the policy? (Yearly?)
Comment from : Gadimi Dorielan

Thanks for the video! When taking a loan on your policy, are we borrowing against the Death Benefit or the Cash Value
Comment from : RiverFlowFX

can i borrow the same day i invest in the insurance ?
Comment from : NeniComixTV

Does your credit score or credit report play a factor when borrowing against your life insurance policy?
Comment from : IK

Can you only borrow what you put in?
Comment from : John Ricketts

Hi I just started my life insurance and I guess I have things confused as to what I was trying to do in the first place… My agent told me I can only use cash value after a few years to get a loan against my policy but I thought I could take a loan up to 80-90 of my death benefits… can you better explain it to me
Comment from : Jacob Simons