An insured may borrow or withdraw the cash value from the insurer when need for insurance...

An insured may borrow or withdraw the cash value from the insurer when need for insurance protection has not yet lapsed.

True

False

Expert Solution

True

Insured can borrow or withdraw cash from insurer on behalf of insurance policy however it will be treated as libility obtained from insurer and for which insured is also liable for payment of interest to the insurance company.However this type of facility is not available for all types of insurance policy it is available only against whole life insurance.

jeff jeffy answered 2 years ago

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