Unlock more value from whole life policies
With Harbor Life, you can eliminate clients’ high-interest loans and reclaim cash value while retaining a death benefit and avoiding future premiums.
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This is whole life reimagined
Stop us if this sounds familiar: your client needs to access cash from their whole life policy, but feels stuck with no good options. Bank loans have high interest rates, and surrendering the policy has unfavorable tax consequences and means forfeiting the death benefit.
The Loan for Life™ program solves this problem. It’s a long-overdue solution for creating tax efficiency and high-interest-rate protection for clients needing to escape high-interest loans or access cash value from whole life policies.
This program allows clients to pay back high-interest loans, access cash value, avoid unfavorable tax consequences of surrendering a policy, and never pay another premium while retaining a portion of their death benefit.
Why partner with Harbor Life?
As an authorized distributor of the Loan for Life™ program, we’re able to offer your clients the best possible solution for unlocking value from their whole life policies — and help you expand your practice in the process.
How does the Loan for Life™ program work?
We offer a loan against your client’s whole life cash value so the client can use the funds tax-free. The current owner stays the owner, and the lender becomes a collateral assignee at the carrier. The value and the maturity payout are the only collateral required.
There are no health, age, or medical requirements. Whole life insurance policies which have been in force for 2+ years with a cash account value of $150,000 to $10,000,000+ are eligible. This program is not available in all states.
What are the benefits?
Loan for Life™ is a better option for many than bank loans or surrendering a policy. Through this program, clients never have to pay another premium, can pay off high-interest-rate loans, can receive as much as 100% of the cash surrender value of their policy (less the Lender’s fees and expenses), and retain a portion of the death benefit — all without a taxable event.
How the whole life program is changing lives
These accounts are about real people who have benefited from Loan for Life™.