Loans against Your Permanent Life Policy

Navy Mutual Permanent Plus policy holders may elect to borrow up to 75% of the available cash value at any time. Upon any repayment of loan interest, one-half of 1% will be deducted to pay for the cost of maintaining the loan, while the remaining interest will be credited back to the cash value. The unborrowed cash-value portion will continue to be credited with the current crediting rate. Any outstanding loan, with accrued interest, will be subtracted from the death benefit or cash value, upon death or surrender, respectively.

In the event that a premium payment is not received within 31 days after the premium due date, an automatic premium loan will be established against the plan so that the policy will not lapse. If the total loan should ever exceed the cash value, the policy will lapse, creating an immediate taxable event. 

  • Borrow up to 75% of the cash value of the policy.
  • One-half of 1% of repaid interest will be deducted to pay for the cost of maintaining the loan.
  • If a premium payment is past due by 31 days, an automatic premium loan occurs to keep the policy from lapsing.

For more information on borrowing against your Navy Mutual Permanent Plus account, please call us at 800-628-6011.