The OceanFirst insurance line of credit provides clients easy access to the cash value they have accumulated in their Whole Life Insurance policy. It’s an easy and low cost alternative to accessing your equity while maintaining policy dividends and other benefits.
- Competitive, variable rate indexed to the WSJ Prime Rate*
- Minimum loan amount - $100,000
- Maximum loan amount - $5,000,000
- Monthly interest-only payments
- Revolving line of credit up to 95% of the cash surrender value of whole life insurance policy
- Easy application process
- No application fees or pre-payment fees
- Policy dividends and other benefits are not affected
- Personal, Trust, or Corporate owned policies eligible for financing
- Three-year term with easy renewals
- Eligible policies must be at least one year old and issued by an approved OceanFirst mutual insurance company
*Rate is variable and will never be higher than your state’s rate limitation or 18% APR, whichever is lower.