Policyholders of cash value life insurance can withdraw their basis without paying taxes because it is considered taking back their own money, and they can subsequently use policy loans which are not reportable as income.

Authors

• Person: Not available Organization: U.S. Bank
  Why is insurance important in financial planning? | U.S. Bank

Sources

• Why is insurance important in financial planning? | U.S. Bank www.usbank.com U.S. Bank via serper

Referenced by nodes (1)

• cash value life insurance concept