Yes. This “pledge” of your life insurance contract will serve as a guarantee. If you cannot repay the loan, the bank that granted it may deduct the amount remaining due from this contract. Advantage: you avoid mortgage or life insurance costs.
But in return, you will not have free access to your life insurance until you have repaid the loan. In addition, if you die before the end of the loan, your heirs will lose the corresponding sums. However, they had the advantage of being exempt from inheritance tax in attractive proportions. Both contracts do not need to be at the same institution, although some lenders require it.
Read also> Life insurance after 70: how to take advantage of it?
The answers given here are indicative, on the basis of the only elements provided in the letters of our readers. They cannot replace a consultation with a professional.
2023-08-03 09:53:39
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