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 ...

While it might feel like just another piece of red tape, the requirement serves a practical purpose. “It’s not about bureaucracy; it’s about ensuring continuity,” explains a representative from ...

Using your life insurance policy as collateral is one way of securing a loan without the risk of using your home or car. Most loans are either secured or unsecured, and while an unsecured loan does ...