The policy remains in-force as long as required premiums are paid or until the death of the insured, whichever comes first. These riders enhance the basic coverage offered under the policy. If you take a loan against the cash value of a whole life policy, you should be sure that you intend to and have the means to keep the policy in-force for life. If a policy is lapsed or surrendered, any outstanding balance loan may cause a taxable gain, and the loan amount and unpaid interest outstanding will also reduce your death benefit. These insurance services are available only to residents of New York and Pennsylvania.
Insurance policies are obligations of the insurers that issue the policies.
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