Get a life insurance loan or advance.


A Life Insurance Loan offers policy holders a unique opportunity to get cash from their insurance policy right away to cover medical expenses, unexpected expenses, or even traveling with family or friends. Unlike a viatical settlement or a life settlement, the policy owner retains ownership of the policy and the policy beneficiaries can receive a portion of the policy once the loan is settled.

Advantages of a Life Insurance Loan

A life insurance loan offers several unique advantages over other life settlement options.

  • All types of life insurance qualify: term, universal, whole life, variable, and even group policies
  • An advance does not require cash value in the policy. Only the death benefit is considered
  • Most individuals who have recently had a major slippage in health qualify
  • Beneficiaries are not required to be terminally ill
  • No out of pocket costs
  • No more insurance premiums to pay
  • Premium or Interest Loan payments are not required during your lifetime
  • The entire cost of the loan is paid back from the death benefit of the policy
  • All life insurance premiums are paid by loan company while you are still living
  • Your personal credit score is not considered during approval


Eligibility for Life Insurance Loan

Qualifying for a life insurance advance is very different to the process to qualify for a normal loan. Often clients who are interested in a life insurance loan have recently incurred unexpected medical expenses and that may have adversely affected their credit. When applying for a life insurance loan, your personal credit is not taken into consideration. The life insurance policy is used as a guarantee and the loan is written as a secured loan.

Loan Approval Process

Factors Considered:

  1. Policy holder age and health
  2. Amount of death benefit
  3. Cost of premium payments
  4. Life Expectancy of Owner