Can a whole life insurance policy be used to secure a loan through collateral assignment? - collateral assignment of lease
Sorry, can not the life insurance can serve as collateral for a loan. Why? The beneficiary of your policy, it is likely that the members of his family. If you do not do the recipients name, the death benefit goes to the apartment when you die.
The residual value of your life insurance is really an insurance policy for the insurance if the insurance can not pay future death claims. If you use the money you borrow and pay interest on the loan on her back. Its cash value also has a low rate of return between 1-4%. God forbid if you die one day, the insurance is the cash value.
Saturday, January 23, 2010
Collateral Assignment Of Lease Can A Whole Life Insurance Policy Be Used To Secure A Loan Through Collateral Assignment?
1 comment:
Yes, you can use a policy to guarantee a loan to secure sale.
It is a simple way to easily in the departments of the service contract holders in most companies.
No matter what life, term life, etc..
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