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Can I cash in my life insurance before I die? | Mike Butean

Updated: Apr 20


In this article, I will talk about how Can I cash in my life insurance before I die


What type of insurance do you need in order to be able to borrow money?


You can use universal life and whole life insurance to borrow money.


Can I cash in my Life insurance before I die?


The short answer is yes you can, but the cash value part of it only. If you can wait until 100 years the cash value will be actually equal with the death benefit.

However, if you cannot wait you might have a few scenarios:

  • For universal life insurance, you can cash the cash value or you can borrow against it

  • For Permanent insurance, you can only borrow against the cash value

  • As mentioned before you can borrow from the life insurance company or you can also borrow from a bank by using the cash value as collateral




If you are interested to find out more, please use:

http://findoutmorenow.ca/ and use the code MB10

Or contact me directly at

647-569-3799

mike@macdevfinancial.com

www.mikebutean.com



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