Generally, it is possible to withdraw limited amounts of cash from a life insurance policy. The amount available differs based on the type of policy you own and the company issuing it. The main advantage of cash-value withdrawals is they are not taxable up to yourpolicy basis, as long as...
Permanent life insurance (i.e. whole life or universal life) provides your beneficiary a death benefit as long as you live. It also accumulates cash value that you withdraw or borrow against during your lifetime. It has a level, higher premium than term insurance. Boomer:If I am age 60 ...
Certain life insurance, such as whole life, carries a cash value with the policy. The premiums you pay each month go towards a certain amount of coverage for your beneficiaries when you die. In addition, a certain portion of your premium can go into a cash value account which grows tax-...