| Title | : | Borrowing From Life Insurance in Canada |
| Lasting | : | 7.51 |
| Date of publication | : | |
| Views | : | 3 rb |
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What do you believe is the biggest benefit you'll get from becoming your own banker? Comment below!brReady to get started?brCLICK HERE 👉 wwwascendantfinancialca/start-here Comment from : Bankers Vault |
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What companies do you guys use to get the loan your bank or is it true insurance company Comment from : Cameron Vincent |
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If I go say to a insurance, what kind of policy I ask Comment from : Daniel Rodrigues |
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If my parents have a life insurance policy on me Can i use that and borrow on it? Comment from : George Ngo |
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@roman pushkar help me understand the math brIf I have insurance with 1M cash value generating dividend of 6 (before inflation) after a year my insurance cash value will be 1060k in nominal terms Is that correct?brbrLet's look at scenario B in which I borrowed 500k at 4 paying 20k interest and repaying principal after a year brbrIf it is true that "interest rate doesn't matter because I am paying interest to myself", does it mean that my insurance cash value will be 1080k instead of 1060k? Please confirmbrbrMy understanding is that my insurance cash value will be still 1060k and that 20k of interest will contribute to insurance company surplus, yes I can get a small fraction of that on next year dividend but definitely most of the interest I've paid is lost money to me Comment from : Itsme |
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The interest rates on those loans are attrocious (4+) Comment from : Itsme |
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