Sentences with phrase «simply collateral for the loan»

But here's the real kicker: When you take out a policy loan, you're borrowing from the insurance company's general fund, NOT from your own cash value directly, which instead is simply the collateral for the loan.

Because, again, a life insurance policy loan is really nothing more than a personal loan from the life insurance company to the policyowner, for which the policy's cash value is simply collateral for the loan.

Not exact matches

It is also good for people who either do not have or simply do not want to pledge collateral in order to get approved for the loan.

We simply hold the title of your vehicle as collateral for your loan.

It is simply, a short term loan that uses the money you've paid into your vehicle as collateral for a loan.

Unsecured business loans can be particularly appealing to small business owners who simply might not be able to own the types of assets banks look for to be used as collateral.

A car title loan simply uses your car as collateral to secure a loan, specifically called a short - term loan, for part of what your car is worth and the title loan as well.

You keep the car for the life of the loan, and your lender simply hangs onto the title as collateral.

Those lenders that refuse to engage in collateral assignment will simply require the borrower to take out a separate term life policy for the loan.

The bottom line, though, is simply this: in the end, a life insurance policy loan is really nothing more than a personal loan from a life insurance company, for which the cash value of the life insurance serves as collateral for the loan.

Families can even use the whole life cash value as collateral for a low - interest loan that does not have to be paid back — the company simply deducts the balance owed from any future payout.

A hard money rehab loan can be one of the easiest to get approval for, simply because it presumes you already own or have high enough equity in the underlying property (instant collateral).