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Finance Dictionary and Glossary of Investment Terms
Policy loan
Definition 1.
A loan often made at a below-market interest rate from an insurance company to a policyholder that is secured by the cash surrender value of a life insurance policy.
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Definition 2.
A loan made by an insurance company to a policyholder on the security of the cash value of the policy.
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Definition 3.
A loan issued by an insurance company, it uses the cash value of a person's life insurance policy as collateral. Sometimes referred to as a "life insurance loan."
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