Supplemental Life Insurance policies typically do not offer a loan feature. Unlike certain types of permanent life insurance policies, such as whole life or universal life, supplemental Life Insurance policies are usually designed to provide additional coverage on top of a primary life insurance policy. They are not intended to accumulate cash value or provide borrowing options.
If you are in need of funds and have a supplemental Life Insurance policy, it is recommended to explore other options such as personal loans from banks or credit unions, home equity loans, or borrowing against other assets you may have. These alternatives may offer more flexibility and better terms for borrowing money.
It's important to review your policy documents or contact your insurance provider directly to understand the specific features and limitations of your supplemental Life Insurance policy. They will be able to provide you with the most accurate and personalized information related to your coverage.