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What happens if my outstanding loans plus interest due exceed the policy loan value on my life insurance policy?

April 26, 2017exceed happens Life Insurance loan Loans Plus policy value

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What happens if my outstanding loans plus interest due exceed the policy loan value on my life insurance policy?

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• Ans: The insurer will provide you with at least 30 days “prior notice” before terminating your policy. During that 30 day period you have the opportunity to repay the outstanding loan and/or interest in order to avoid lapse.