Charleston, SC Sales Tax Rate. The current total local sales tax rate in Charleston, SC is 9.000%. The December 2017 total local sales tax rate was also 9.000%. Sales Tax Breakdown
Thus, borrowing money against a term life insurance policy is not possible most of the times, it is still recommended discussing it with the insurance company. During the discussion, first, a policy holder needs to ask his or her agent if borrowing is even a possibility.
The collateral for your policy loan is the death benefit, which means that if you should die before repaying the loan the death benefit will be reduced by the amount of the outstanding loan. Whole life policy loans have interest rates significantly below market rates and often have no interest at all.