Making Policy Loans and Withdrawals
Feb 13, 2020 11:31:01 AM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, loans, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG, withdrawals
Cash value life insurance refers to a wide variety of insurance policies that provide both a death benefit and a cash value component that may build tax deferred over time. Many cash value policies let you borrow or withdraw from the cash value. This can sometimes be a good way to raise funds for expenses or emergencies. However, before you take a loan or withdrawal from your policy, make sure you explore all of your options and understand the issues involved.