Many whole life insurance contracts build cash value. A valuable feature of a cash value life insurance policy is the ability to borrow from your policy’s cash value. However, taking out a policy loan can have a significant impact on your policy’s performance. In addition, any outstanding loan balance and interest will reduce proceeds paid to your beneficiary.
Notes:
Complete a signed written request for a loan and mail or fax it to us.
1. You are submitting a copy of court documentation awarding you sole ownership of this asset with your request for a loan.
2. You are submitting a copy of the death certificate in the event your spouse has passed away with your request for a loan.
3. You have Power of Attorney (POA) for your spouse, and are submitting a copy of the POA appointment with your request for a loan.
4. You will be indicating never married in lieu of where a spouse’s signature is required.
Mail a check to the attention of the Customer Service Department. The check should be made out to Federal Life Insurance Company. Call the Customer Service Department at (800) 233-3750 ext. 503 to request automatic monthly loan repayments from your checking account. The amount you choose should be no less than $10 per month or the amount necessary to cover monthly interest charges on your loan; whichever is greater.
Choose one:
