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Thread: Loans with life insurance as collateral

  1. #1
    Newbie New User
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    Nov 2012
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    Loans with life insurance as collateral

    Anyone know of institutions/companies that will lend money to terminal patients who will assign life insurance benefits? Not a purchase of the policy, but a short term loan to be paid off from death benefit.

  2. #2
    Newbie Top User jpearson's Avatar
    Join Date
    Aug 2011
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    739
    Eddy, I would be really leary of try to find an instition that will lend against a policy . However, I cashed out 2 of my life insurance poicies. Most life insurance policies do have a buy out policy based on having a terminal condition. know that New York Life and Predential will PAY out 80% of policy. Id call your broker or the company it self to review the speccific policy and see what options you have.

    josh

  3. #3
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    Dec 2012
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    Fifth Season Financial Assistance--they provide loans.

 

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