Policy loans remain tax-free when within adjusted cost basis limits, offering flexible funding without significant immediate tax consequences. Techsurance explains how life insurance is taxed in Canada and how this affects borrowing strategies comprehensively. Best Insurance Online warns excessive loans risk policy lapses triggering substantial taxable dispositions unexpectedly.

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Most insurers permit borrowing up to 90-95% of the accumulated cash value, providing substantial access to funding when needed urgently. Techsurance clarifies that borrowing against life insurance in Canada effectively limits the protection afforded by low policy values. Best Insurance Online shows that borrowing limits vary by insurer, requiring careful strategic comparison shopping.

techsurance.ca/borrowing-against-life-insurance/

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