by sexymota » Wed Aug 26, 2015 09:00 pm
I have a term life insurance and I've looked into how to use it as a calaterel towards a loan. What bank can i reach out to in Ontario, california that will do this?
Posted: Fri Aug 28, 2015 08:22 pm Post Subject:
None. Term life is almost never acceptable as collateral for a bank loan.
Posted: Mon Sep 14, 2015 06:57 pm Post Subject: Collateral Assignments
Term life insurance is absolutely acceptable as collateral on a loan....it is done all the time. When you go to your bank to take out a loan, they may require life insurance. Each life insurance company has its own collateral assignment form that is used for this purpose...it is very easy to do, and done all the time with term life insurance. Good luck.
LifeInsuranceAdvisors.com
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