LOAN VALUE. The loan value is 90% of the policy's cash value. LOAN INTEREST. Interest on a loan accrues daily, at an annual rate of 5%. Interest is due on each policy anniversary. If the interest is not paid when due, it will be added to the loan and bear interest at the loan rate. When a loan plus loan interest first exceeds the cash value, we will mail to you and any assignee of record at last known addresses a notice that the policy will terminate if such excess amount is not repaid within 31 days after we mailed such notice.
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Sources: Variable Life Insurance Policy (Separate Account I of Equitable Variable Life Insurance Co), Variable Life Insurance Policy (Separate Account I of Equitable Variable Life Insurance Co)