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Can I get a loan on a 20 yr whole life policy and how hard is it usually

Posted in Whole Life Insurance over 2 years ago, 1 reply

I have whole life policy with Knight of Columbus for about
20 yrs. How difficult is it to obtain a loan? What are the norm rates of interest

Kathy
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submitted by Kathy in Deerfield, FL
It is very simple to get a loan on your whole life policy. Just call up the agent who sold it to you or call any Knights of Columbus agent and they can help you. Just an FYI, there must be cash built up in the policy in order to take a loan. Typical interest rates are 5%-8%, it depends on the company.
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submitted by Jeremy in MN @ August 03, 2009 - 12:51 PM
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