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Split Dollar Loan for an Owner (Powerpoint) Review the strategy of providing benefits to the owner of a corporation through a split dollar loan agreement. Split Dollar Loan for Key People (Powerpoint) Review the benefits of providing executive benefits to an employee through a split dollar loan. Executive Benefits Storyboard This presentation lets you take a
Split Dollar Loan for an Owner (Powerpoint) Review the strategy of providing benefits to the owner of a corporation through a split dollar loan agreement. Split Dollar Loan for Key People (Powerpoint) Review the benefits of providing executive benefits to an employee through a split dollar loan. Executive Benefits Storyboard This presentation lets you take a
Split Dollar Loan for an Owner (Powerpoint) Review the strategy of providing benefits to the owner of a corporation through a split dollar loan agreement. Split Dollar Loan for Key People (Powerpoint) Review the benefits of providing executive benefits to an employee through a split dollar loan. Executive Benefits Storyboard This presentation lets you take a
The impact of taking a life insurance loan Over time, taking a life insurance loan has a significant impact on your policy. Remember that: A policy loan reduces the death benefit and the cash surrender value of your policy. The cash surrender value is the amount you receive if you cancel your permanent life insurance policy. Insurance deductions continue. You need to make sure theres
Making loan repayments Loans can be repaid at any time using the mobile app, online customer portal, or by sending in a payment. Important: Payments intended for repaying a loan should be clearly marked as such. Otherwise, they will be considered premium payments.
Life insurance loans are different than withdrawals When you take a life insurance loan, you borrow against the collateral in your policy, but the loan amount can continue to contribute to the accumulated value growth of your policy (for participating loans). When you withdraw money from your life insurance policy, the money is taken from the death benefit, if the policy allows
What is the loan value of a life insurance policy? How much you can borrow depends on the current cash surrender value of your cash policy, which will be used as collateral if you take a loan. This cash surrender value is different from the death benefit, or face amount, which is the money your loved ones get when you die. When a policy is referred to with a dollar amount (for example, a $1 million dollar
Benefits of taking a loan against your insurance policy A life insurance loan provides access to the cash surrender value you have built up, income tax-free1. In addition, benefits of a life insurance loan include: Guaranteed approval if you have enough cash surrender value. You can use the borrowed money for any purpose, for example to buy a new car, remodel your home, or fund
Next steps Find out what is best for you and your unique situation: Work with your agent or a financial/tax professional. Learn about the process of taking a life insurance loan. Get answers to further questions about taking a life insurance loan (if you have a National Life Group life insurance policy), by contacting our Customer Experience Center. Initiate a loan using the