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Question If I take out a policy loan on my life insurance policy, what rate of interest can the insurer charge?

Answer At the option of the insurer your policy will provide for either a fixed loan interest rate not to exceed 8% (seven and four-tenths per centum per annum if payable in advance) or a rate not in excess of an adjustable maximum rate based on Moody's Corporate Bond Yield Averages.

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Consumer FAQs - Life Insurance

Comprehensive information about life insurance from the Insurance Department's Life Insurance Resource Center
URL: http://www.dfs.ny.gov/consumer/faqs/faqs_life.htm

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