An existing life insurance policy can be used to satisfy the lenders requirements as long as the amount of death benefit on the policy is enough to cover the loan amount required. (rootfin.com)
The minimum amount of death benefit on this policy is $ 100,000, and proceeds may be applied for up to $ 65 million. (goodfinancialcents.com)
Should the insured pass away any time after two years have elapsed, the beneficiary would receive 100 percent of the amount of the stated death benefit on the policy. (lifeinsurancebyjeff.com)