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 ...

Some personal loans require collateral — that is, a personal asset, such as a car, home, cash deposit or investment — that you offer to secure the loan. This asset reduces the lender’s risk, as you’ll ...

Meagan is a former Series 7 financial advisor and current writer focused on blending straightforward information with a dose of humor on topics including equity investments, insurance products, and ...

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 ...