A life insurance policy may be used as collateral to secure a loan. If you die before the loan is repaid, the lender will be repaid from the policy’s death benefit proceeds before beneficiaries can ...

Life insurance protects a policyholder’s loved ones when they pass away. But life insurance may also come in handy during the policyholder’s lifetime if they want to apply for a personal loan. Some ...

Collateral assignment enables you to use your life insurance as collateral for a loan. This allows you to be approved for a loan if you don’t want to put your other assets at risk. Here is how ...