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2. The Pros and Cons of Borrowing Money From Your Life Insurance ...

   www.aol.com/finance/pros-cons-borrowing-money...

   “Borrowing from a life insurance policy refers to taking a loan against the cash value of a permanent life insurance policy, such as a whole ... tax implications. They call it insurance for a ...

3. Borrowing against your life insurance policy

   www.aol.com/finance/borrowing-against-life...

   In the context of life insurance, phantom income is money that the policyholder may be on the hook for paying income tax if they don’t pay back a policy loan, as this is considered canceled debt.

4. Internal Revenue Code section 79 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   An employee must include in gross income for Federal income tax purposes an amount equal to the cost of group-term life insurance coverage on the employee's life to the extent that the cost of the coverage exceeds the sum of $50,000 plus the amount (if any) paid by the employee to purchase the coverage. [2]

5. Life insurance tax shelter - Wikipedia

   en.wikipedia.org/wiki/Life_insurance_tax_shelter

   In those jurisdictions where life insurance proceeds are only tax-free at death, tax liabilities that come due at death are often offset by a policy of the same size. Since the mathematics required to compare different strategies is quite complex, most consumers defer to an accountant or life insurance agent for advice. However, there is often ...

6. The Pros and Cons of Borrowing Money From Your Life Insurance ...

   www.aol.com/news/pros-cons-borrowing-money-life...

   A life insurance policy is ideally something you take out with the intention of leaving your beneficiaries with a financial security blanket after your passing. But some types of insurance ...

7. Are life insurance loans a bad idea? - AOL

   www.aol.com/finance/life-insurance-loans-bad...

   Loans: When you take a loan from your life insurance policy, you’re borrowing against the cash value. This means the cash value remains intact while the insurer lends you the money, using the ...