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Can you use a life insurance policy as collateral for a loan 2024?

Harper Roberts | 2023-05-07 12:06:16 | page views：1976
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Charlotte Davis

Studied at the University of Sydney, Lives in Sydney, Australia.
A collateral assignment of life insurance is a conditional assignment appointing a lender as the primary beneficiary of a death benefit to use as collateral for a loan. If the borrower is unable to pay, the lender can cash in the life insurance policy and recover what is owed.
2023-05-16 12:06:16
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Felix Martin

QuesHub.com delivers expert answers and knowledge to you.
A collateral assignment of life insurance is a conditional assignment appointing a lender as the primary beneficiary of a death benefit to use as collateral for a loan. If the borrower is unable to pay, the lender can cash in the life insurance policy and recover what is owed.
What is a collateral assignment of life insurance? | Investopedia
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