No. of Recommendations: 0
Does anyone understand the concept of "borrowing" money from the cash value of my whole life policy and then not having to pay it back? Is there is some sort of interest charge I would have to pay for "borrowing" my own money?

I would get rid of the damn thing but my wife would kill me (her father sold me the policy). Little did I know three years ago what a STUPID and Wise thing that was. Take my advice: Buy term insurance and invest the difference!!!

Fool On!!!
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.