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2810 Fieldstream Drive North
Wilson, NC 27896
Phone: 252-237-4357
Fax: 252-243-2681
September/October 2017
Cashing In
In addition to providing a death benefit, permanent life insurance builds cash value during your lifetime. If you want access to the funds, the following strategies may be available for tapping into your policy’s cash value.
Take a loan.
You may be able to borrow against your policy at a favorable interest rate. You don’t have to repay the loan, but any money you borrow, plus interest, will be deducted from the policy’s death benefit.
Withdraw money.
You can generally withdraw some or all of your cash value. Withdrawals will reduce the policy’s death benefit, possibly by a greater amount than the funds withdrawn.
Pay your premiums.
You may be able to use the policy’s cash value to pay your insurance premiums.
Surrender the policy.
You might be able to surrender your policy and receive the cash value. However, surrender fees will apply, and your heirs won’t receive the death benefit.
FR2017-0504-0006/E
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