Learn the ins and outs of collateral assignment in life insurance policies, how it secures loans, and what it means for your beneficiaries.

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 ...

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 ...