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Neal's life insurance policy has a cash value of $100,000- He wants to purchase a second home to rent out- How much can Neal borrow against the surrender value of his life insurance policy?

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What Is Consumer Debt?

Consumer debt consists of personal debts that are owed as a result of purchasing goods that are used for individual or household consumption. Credit card debt, student loans, auto loans, mortgages, and payday loans are all examples of consumer debt.
 


Neal's life insurance policy has a cash value of $100,000- He wants to purchase a second home to rent out- How much can Neal borrow against the surrender value of his life insurance policy?






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