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

The term Insurance Assignment refers to the transfer of ownership from the Policy Owner (Assignor) to another person (or institution aka Assignee). The Assignee will now have control of the insurance ...

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 ...