When setting up collateral assignment of life insurance, it is very important to remember that the lender should never be named as beneficiary on the policy. (rootfin.com)
The policy will provide the named beneficiary on your policy with death benefits during the length of the term. (mozdex.com)
If there is more than one primary beneficiary on that policy will they both each have their own Death Benefit claim or will they each get their own? (quotacy.com)