Advice needed on how we should settle an accumulated policy loan?

An update:

We will be going to the customer service counter tomorrow, but I have received a recent letter from them regarding the cash value of this policy.
It's wayyy under the illustrated value. The illustrated cash value at year 28 is ard $79k but the actual cash value now at year 30 is $50k. That's such a huge disparity? Is this normal? The old policy plan doesn't have columns for "guaranteed" and "projected/illustrated" but just "Cash value", "Paid-up value" and "Projected Death Benefit". I'm just assuming that its illustrated.

Also, I'm wondering if it's possible to "minus" off this loan from the cash value. It's pretty unethical of them to let the loan accumulate all these years without checking on the client from 5k to 17k. Sure its legally not wrong, but I'm pretty taken aback at how uncaring insurance companies can be.

Sorry for the rant. I will update again after going to the office tomorrow.

There are a few ways you can do it for the policy. The policy loan is currently at about 5.75% (for most insurers) if I am not wrong. The yearly returns should be around 6 or 7% depending.

For such cases, it depends on whether you need the money urgently etc, or convert it to a paid-up one.

I offer to buy over (even with loans) because it is interesting. If you wish, you can write to me at [email protected] or Facebook https://www.facebook.com/tattian.loh
Do speak with an FA who could run you through the numbers.