Yes, with many types of life insurance policies, such as whole life or universal life insurance, you can borrow against the cash value of your policy. This would essentially be a loan from Pacific Life and would decrease the death benefit if not repaid. It's key to remember that borrowing against your policy could have long-term impacts on your policy benefits and tax implications. It's best to consult with a financial advisor before taking such a step. Each policy is unique and you'll want to understand all the ins and outs before making a decision.
Asked Apr 17, 2024 8:26 PM