What Happens When You Withdraw Money From Life Insurance? 🤔 #LifeInsurance

When you have a permanent life insurance policy you build up a savings portion of your account called cash value.

You can access these funds 2 ways.

1) Withdraw the funds and pay taxes on any growth.

2) Don’t touch your cash value and instead take a policy loan by borrowing against your cash value. Pay low interest by pay no taxes.

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Jerry Fetta

Jerry Fetta is the CEO and Founder of Wealth DynamX. He is a nationally recognized financial expert featured in Forbes, Yahoo Finance, Fox, Chicago Weekly News, New York Finance, interviewed on over 45 podcasts with world renowned experts, earning endorsements and affiliations throughout his career with names like Kevin O’Leary, Grant Cardone, Dave Ramsey, and Pamela Yellen.

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(DISCLAIMER: The information in this content should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Wealth DynamX can and does not provide advice unless/until engaged by you.)