policy loans

  • Monies loaned insured individuals who have pledged the value of their policies as collateral for the loan.

    Internal Revenue Service 1
    See also coinsurance

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).