minimum deposit policy
A minimum deposit policy is a cash value life insurance policy having a first-year loan value available for borrowing immediately upon payment of the first-year premium.
minimum deposit policy
A minimum deposit policy is a cash value life insurance policy having a first-year loan value available for borrowing immediately upon payment of the first-year premium.
Additional Information
It is generally held that the life insurance must be in force for 4 years before borrowing can occur.
