Life Insurance - How To Borrow From Your Life Insurance Policy

Determine your policy's approximate cash value by looking at your last annual statement from the life insurance company, an plan on borrowing no more than 90 percent of that value. Find the policy's contact number on the title page of the insurance policy or on the annual statement. Call the Insurance company's home office during regular business hours, usually 8"30 a.m in each time zone. Earlier in the day is usually a better time to call.




Give the costumer service representative your life insurance policy's contact number and indicate that you want to borrow against the life insurance policy. Ask the customer service representative your Life insurance policy's exact cash value and how much of that amount you may borrow. Ask when you can expect to receive a check in the mail, and write down that date. Document your call by writing down the first and last name of the customer service representative and his or her direct phone number or business extension.