What Happens if You Don't Pay Back Your Life Insurance Loan?

You’ve heard some people borrow from their life insurance policy and don’t pay it back. And you might be thinking: “I’ll do the same thing! Why not?”

You’ll want to listen to this episode because I’ll share why not treating yourself like an honest banker is a bad idea.

I’ll also explain all the repayment options available to you, and what to do if you have a financial hardship and don’t think you can repay your loan like you had planned.

Listen now!

Show highlights include:

• “Repayment Refresher”--The many ways to repay your loan and how to set up a loan repayment. (1:47)
• Loan payment “magic trick” for life insurance loans that conventional bank loans can’t match. (3:17)
• Why I don’t recommend using dividends to repay your loan, even though you could. (5:15)
• Money’s tight? Can’t repay your loan? Try this before surrendering. (5:49)
• What really happens if you don’t repay your loan. (7:01)
• How reckless borrowing and careless repayment can combine to cost you your policy. (8:32)
• The tax return nightmare that follows a policy lapse. (9:26)
• Why the “honest banker policy” is the best approach to IBC. (9:54)

Reach out to me: [email protected] https://www.linkedin.com/in/valerie-laroque-lacp-b569509 Infinite Banking Mastery (infinitebankingnorthwest.com)