Pledge Of A Life Insurance Policy


Definition of "Pledge of a life insurance policy"

Scott Ricamore
  Keller Williams Park Cities

Transfer of the cash value of the policy from the policyowner to the policyowner's creditor as security for a loan.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Identification

First step in the risk management process. The objective is to determine the sources of losses. For ...

Nonownership Liability Insurance

Coverage for an employer against liability for property damage or physical injury caused by an emplo ...

Section 79 Plan

Group whole life insurance policy designed to reduce an employee's exposure to income tax on the val ...

Prepayment Penalty

A charge imposed by the lender if the borrower pays off the loan early. The charge is usually expre ...

Pension Plan Funding Instruments

Means of paying the cost of benefits of pension plan participants including retirement, death, and d ...

Sill

Bottom of a frame such as a window sill. ...

Related Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Gue ...

What Is A Negative Amortization?

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and wo ...

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off o ...

What Is A Subprime Mortgage?

A subprime mortgage is a mortgage granted to a borrower who is considered subprime-that is, a person ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is Hazard Insurance? Why Use a Real Estate Agent? Rent or Buy - the pros and cons Top Five Reasons Your Home Offer was Rejected How Does The Home Loan Underwriting Process Work?

FAQ

How Much Will My Principal Be? What do I need to know about Managed Care Insurance: HMO, PPO, & and POS plans? What is a mortgagor? Do I need flood Insurance? What is a Multiple Listing Service (MLS)?