Minimum Deposit Rescue

Definition of "Minimum deposit rescue"

Connie & Dave  Burnett real estate agent
Connie & Dave Burnett, Real Estate Agent Burnett Family Real Estate- Bold Realty

Technique designed to permit the exchange of a life insurance policy that has an outstanding loan charged against it for another life insurance policy on a tax-free basis. The procedure is for the insurer to issue a new policy subject to a loan in the amount equal to the outstanding loan on the old policy. If the new policy so issued is of the form of a flexible premium policy such as universal life, the loan from the old policy can be replaced by the new policy assuming the loan.


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