All Forum Posts by: Evelyn Liaw

It's not that simple. It is not a good idea to make a large lump sum premium payment. This drives up the death benefit and fees inside the policy. I think that the ideal funding period (if you are trying to get a lump sum of saving into a policy) is 5 years. In your case, that would be a policy with $20K per year for 5 years.

But otherwise, Yes, if you had $100,000 of cash value, then you could get a loan for $100,000 that you could use to make a down payment on real estate. Realistically, most companies hold back the first year interest, so it would be just less than $100,000 that you could get. If you borrow from a bank with the policy as collateral, there is usually a 90% LTV.

In a properly-designed, maximum over-funded policy, about 85% of the premium goes to the cash value.

Thank you so much for your reply. I'm going to continue to do more research on this :) just bought R. Nelson Nash's book becoming your own banker. Really appreciate your time and input.

1 Vote

San Diego, California

My question to whole life insurance is how much and how fast can i take a loan out against the policy? Also, is whole life insurance a scam? I'm still at the stage of doing research.

For example, let's say i have 100K sitting in my bank doing nothing and right now I am not purchasing investment properties. If I put that money into whole life insurance, will I be able to loan myself against the policy to purchase a home in cash let's say 400-500K? This way I could just use refinance and might get lower interest rate when the time is right. and I'm thinking that it will be easier to obtain the loan when it is refinancing.

Thank you so much for your time in advance.

0 Votes

San Diego, California

Thank you all so much for your helpful replies. Yes they are totally being jerks right now. But it's ok everything worked out :)

0 Votes

Orange County, California

Hi Arsen,

Thank you for your reply. I did receive the report. But it needs to be transferred from the previous lender to the new lender.

0 Votes

Orange County, California

Hi,

The previous lender ordered an appraisal for me. Now I changed to a new lender, and they basically have me jump through hoops and withholding my appraisal report and not transferring to the new lender. What can I do?

I didn't want to wait, so I went ahead and ordered another appraisal report through the new lender. Now the 2nd appraiser didn't know the market around the high desert area, didn't even put rental income into consideration and made so many mistakes. The 2nd appraisal came in significantly lower (80k) than the first appraisal report. It's a fourplex, and the rental income vs home value should be around the same value as the 1st appraisal report.

Please advise...

0 Votes

Orange County, California

All Forum Posts by: Evelyn Liaw

Evelyn Liaw has started 1 posts and replied 5 times.

Post: Whole life insurance

Post: Whole life insurance

Post: Previous lender refused to transfer an appraisal report I paid fo

Post: Previous lender refused to transfer an appraisal report I paid fo

Post: Previous lender refused to transfer an appraisal report I paid fo