I lend money when you need it most, with no questions asked.

A permanent insurance policy like whole life or universal life has two features that make it the perfect collateral for a loan: death benefit and cash surrender value. These elements, like a house and the equity that an owner has in it, can be used to secure loans that can provide cash for emergencies, business purposes, real estate transactions, personal spending, etc.

Unlike the equity in a home however, borrowing against a life insurance policy is a no-questions-asked proposition. To the extent that a policy owner has equity (cash surrender value) in his policy (and subject to the limits of the actual life insurance contract), a loan can be made without having to qualify for it. The policy owner need only ask for the money and funds are delivered in just a few days.

Many a criticism has been leveled against cash value policies and policy loans. Most often, you will hear a supposed "money guru" like Dave Ramsey or Suze Orman say "You are borrowing your own money! How stupid is that?". But the criticism is completely unfounded. You see, you aren't borrowing your own money--you are borrowing the insurance company's money and using your money (cash surrender value and death benefit) as collateral. Just like you do with a home equity loan. Except that with a life insurance policy loan, you get much more favorable terms. Like, for example, never having to make a payment and zero net financing costs (again, subject to the terms of the specific life insurance contract).

Access to cash surrender values in a life insurance policy has many uses. Whether your need for a loan is for a family emergency, a business opportunity, a real estate deal or some other purpose, you can count on your good old fashioned permanent life insurance policy to be there, ready to loan you money--without asking questions!

Next: I pay off mortgages, so that the family can remain together in their own home.