If you have a Whole Life insurance policy (a policy that builds cash value), you can take a loan from the available cash value. Loan interest (applicable rate) would be due in advance, from the date the loan was taken to the next policy anniversary date. The loan interest due in the initial year is taken from the loan check that we send to you so there are no initial out of pocket costs. Interest is then charged once a year on the policy anniversary. Should the insured pass away with a loan outstanding, it would be subtracted from the death benefit.
If you would like to request a policy loan against your available policy cash value, simply contact our Call Center toll free at 1-800-694-7254. Our customer service representatives are available each business day Monday - Friday from 8:00 A.M. through 6:00 P.M. (ET). Note: When contacting our call center, you will be requested to provide positive verbal identification as a policyowner.