Categories
Managing Your Debt

Cash out a Life Insurance Policy

You may have accumulated some cash in your whole or universal life insurance policy that you can put toward your debt. Like tapping retirement funds, this is a risky strategy that can come with tax consequences.7 Borrowing from your insurance policy is also an option, but it may affect the death benefit your beneficiaries will receive.

Leave a Reply

Your email address will not be published. Required fields are marked *