Does it make sense to borrow against my life insurance policy to fund a college education?
If paying for your child’s college education threatens to put you in the poor house, consider borrowing against the cash value of any life insurance policy you hold. Before you borrow, though, think about your life insurance needs as well as your need for college cash. You might not want to borrow the maximum amount and then die, leaving your survivors with significantly less money to go on without you.
Related Questions
- I want to set up a life insurance policy, name Childrens Defense Fund as beneficiary, but retain ownership of the policy. Can I deduct the premium payments I make?
- Does it make sense to borrow against my life insurance policy to fund a college education?
- How Do You Apply For A Scholarship From The United Negro College Fund?
