Can you borrow against a whole life insurance policy to make more passive income?

Good question.

Yes, you can borrow against a whole life insurance policy to make more passive income.

Whole life insurance policies are paid for with premiums, which remain level for the duration of the policy.
A portion of each premium goes toward the death benefit and any associated fees; the rest goes toward the policy’s cash value account where it earns a guaranteed rate of return, plus potential dividends.
When your whole life policy is designed for growth and utilizes a paid-up additions rider, you can overfund your policy in the first several years to rapidly accumulate cash value. The growth of your policy is tax-advantaged and can be utilized tax-free in the form of policy loans.
Policy loans allow you to borrow your cash value, plus accumulated growth, from your whole life insurance policy while still earning interest and potential dividends on the full cash value of the policy. The growth of your cash value is your passive income.

Utilizing whole life insurance as a passive income strategy is much more than simply borrowing your own money. You’re gaining tax-free access to interest and dividends, which can amount to hundreds of thousands of dollars with a properly structured policy.

If you would like to learn more about investing for passive income, just register for my free weekly training at the link below:

https://www.meetup.com/benjamin-z-millers-investor-networking-group/

I hope that helps and good luck with your investing!

Benjamin Z Miller
www.benjaminzmiller.com

Benjamin Z Miller
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www.benjaminzmiller.com

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