Question
What is the name of your state? AR
is cash value in a whole life ins policy considered an asset
and if you borrow against it will it have to be paid back and how much time does it have to be paid back
Answer
What is the name of your state? AR
is cash value in a whole life ins policy considered an asset
and if you borrow against it will it have to be paid back and how much time does it have to be paid back
Yes its an asset. If you borrow and DON'T pay it back, if the person dies, it will be subtracted from the death benefit. If you borrow and pay it back (in full), the death benefit will be the same. Your best bet is to pay it back before its needed (before the person dies)...of course, you don't know when that will be.