Did you know J.C. Penney, Walt Disney and  Doris Christopher all borrowed from their life insurance policies?

Following the 1929 stock market crash, retail magnate James Cash Penney borrowed from his life insurance policies to help meet his company payroll. If he hadn’t come up with the cash, the company likely would’ve been forced to close.

When no banker would lend him the money, Walt Disney borrowed from his life insurance in 1953 to build Disneyland, his first theme park.

The Pampered Chef

In 1995, Doris Christopher launched a kitchen tool company, the Pampered Chef, with a policy loan. In 2002, she sold her company to Warren Buffett’s Berkshire Hathaway for a reported US $900 million.