Someone told me I can borrow money from my life ins policy its with my job is that possible?
Nope, not possible. You don’t own that policy , it’s a group policy with your employer – and it’s usually group TERM coverage, not something you can borrow against. Sorry. “Someone” has no idea what they are talking about. You can only borrow money, if you own a whole life insurance policy. And you can only borrow about 10% of what you’ve paid into it. You can’t borrow against the payoff – you only borrow against the premium, and only a fraction of that.
