LLC paying back WholeLife policy loan used for down-payment?

[Andrew Kougl]

Hoping someone out there has done this. My insurance agent shared with me that if my personal insurance policy is used as a loan for a business expense, the interest on the loan is tax deductible.

In my case I want to use my loan to fund a down payment on a property which is being purchased under my LLC. Will I need to write a promissory note where my LLC agrees to payment terms with my personal WL policy with a 5% interest payback? Is there anything more to it? I just want to make sure that my business income, cash flow from the property, is okay to pay back this cost as I know you aren't supposed to use business income to pay personal expenses.