Find Life Insurance Policy: Lender
February 24th, 2008 | by admin |A lender of life insurance policy can require you to have insurance backup to a loan, but ''you have to be given two or three options,'' Magill said. You may be offered the lender's insurance, policies from other companies, or be given the opportunity to assign an amount from your existing life insurance policy to cover the loan amount, he said.''If you have a life insurance policy, the cheapest way is to make a collateral assignment,'' Magill said. ''That way, there are no additional out- of-pocket dollars than you're already paying.''
