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chefhoo

Joined: 9/7/99 Posts: 9903
Likes: 3886


Short answer, yes. There are tax consequences to the owner. Also consider


that you will lose some of the engine by withdrawing money (the cash value amd life insurance wont grow as fast. You can also check on a loan... the rates on variable life policies are usually pretty good (5% or so).

Best bet is to contact the agent on the policy and ask them the questions.

Take my info with a grain of salt... I haven't been insurance liscensed in 15 years.

(In response to this post by SabreNation)

Posted: 02/07/2019 at 2:13PM



+1

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Current Thread:
 
  
Variable Life Insurance- Question for the Sabre -- SabreNation 02/07/2019 1:58PM
  Thanks Chef! it does state loan interest 5%** -- SabreNation 02/07/2019 2:23PM
  Thanks Hoos73! ** -- SabreNation 02/07/2019 2:34PM

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