Can I take a loan against my life insurance policy?

Yes, you can take a loan against your life insurance policy. MassMutual allows policyholders to borrow from the cash value of their permanent life insurance policies. The loan amount will depend on the policy's cash value and any outstanding loans or interest accrued. The loan can be used for various purposes such as paying for education expenses, purchasing a home, or covering unexpected bills. It is important to note that the loan, if not repaid, will reduce the policy's death benefit and cash surrender value. Additionally, interest will be charged on the loan, which should be repaid to avoid potential tax consequences. MassMutual offers flexible loan repayment options and detailed information can be found on their website or by contacting their customer service team.