John A Posted November 1, 1999 Posted November 1, 1999 Should the value of individual insurance policies held by a participant be included in the account balance for purposes of determining the maximum loan available? In this case, the participant had approximately a $100,000 balance, and $30,000 was the cash value of individual life insurance policies. Are they able to borrow $50,000 or $35,000?
Guest Posted November 1, 1999 Posted November 1, 1999 Check your plan document to see if there are any specifics. If not, I would certainly include the value of the life insurance.
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