Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can a policy be used for security purposes?Are security cessions available on Personal Financial Planning?

April 26, 2017cessions Financial Planning policy purposes security Used

0

Posted

Can a policy be used for security purposes?Are security cessions available on Personal Financial Planning?

1 Answer

0

Posted

Yes, a policy can be used as security for loans applied especially with banks, where the policy is ceded to the bank until the loan is repaid, after which, it is receded back to the policy holder.