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Today General Knowledge(GK)
To use life insurance policy benefits as collateral for a loan is called_____
A)
Maturity Claim
B)
Paid-up value
C)
Surrender Value
D)
Collateral Assignment

Correct Answer : Option (D) - Collateral Assignment



A collateral assignment of life insurance is a conditional assignment appointing a lender as the primary beneficiary of a death benefit to use as collateral for a loan.

Published On : June 2, 2021
Category : Insurance and Finance
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