Which of the following life insurance policies allows a policyowner to take out a loan from the policy’s cash value?
Which of the following life insurance policies allows a policyowner to take out a loan from the policy’s cash value?
Automatic Premium Loan (APL) Provision: A permanent life insurance policy non-forfeiture provision that allows an insurer to automatically pay an overdue premium for a policyowner by making a loan against the policy’s cash value as long as the cash value equals or exceeds the amount of the premium due.
