Life Credit connects seriously ill individuals with lenders that accept life insurance as collateral — no payments required, no credit check, and approval within 3 business days, funding within 3 weeks.
Understand the basics in about a minute — what it is, how it's different, and who it's designed to help.
A quick explainer on living benefit loans
For example, if you have $200,000 of coverage, we can loan you up to $100,000 secured solely by your policy. You do not lose your life insurance and your beneficiaries remain the same. If you currently have at least $100,000 of coverage and have been diagnosed with cancer or another serious medical condition, you may qualify for a life insurance loan.
If you have more questions about borrowing against life insurance policies, visit our FAQ page or contact us for a free consultation.
Our loan is secured solely by your life insurance policy and you will never be asked to pledge additional collateral. Borrowing against your life insurance policy has never been easier and can provide you with the financial help you need.
Whether you are in need of financial assistance for a breast cancer patient or are personally suffering from another serious disease, you will never be required to make loan payments or incur any out-of-pocket expenses. Our goal is to help the patients who need it the most.
Your life insurance policy's death benefit repays the loan and the remaining proceeds are paid to your beneficiaries. We can answer any questions you have about life insurance loans and explain how they work.
Life insurance loans are approved within 3 business days upon receipt of a complete application. Some of the types of policies that we accept include: term, group, universal, FEGLI, variable and whole life insurance.
We will pay all of your life insurance policy's future premium payments because we are dedicated to providing meaningful financial help for cancer patients and other patients facing a serious illness.
Whether you are looking to pay off medical bills, consolidate debt, or take your family on a dream vacation, you can use money from your life insurance loan to spend on whatever you want without restrictions.
You will never be declined due to poor credit, lack of income, or previous bankruptcy. If you have been considering borrowing against your life insurance, one of our professional counselors can help guide you through the process.
Our professional consultants will help you through your loan application process. Applying for a Living Benefit Loan is free and you will never be under any obligation to accept our loan offer.
We specialize in providing financial help for cancer patients as well as patients suffering from:
"I am looking forward to helping you get the money you need today. Whether you are ready to apply or just have a question, please do not hesitate to reach out."
Hear from people who've been through our program and found the financial relief they needed.
"Life Credit was my miracle. They loaned me a total of $100,000 against my life insurance which enabled me to get a double stem cell transplant and I am now in full remission."
"Hearing that I can use my life insurance policy to pay for the expenses and treatments that I need without becoming financially destitute was a life-changing moment."
Not all lenders accept life insurance as collateral — most banks and traditional lenders do not. Here's what you need to know about finding the right lender and how Life Credit helps.
Traditional banks and credit unions generally do not accept life insurance policies as collateral for personal loans. However, specialized lenders — sometimes called life settlement loan companies or living benefit lenders — specifically structure loans backed by life insurance death benefits.
Life Credit is a licensed marketing company (CA Finance Lender License #601K051) that connects qualifying patients with these specialized lenders. Our network of life insurance collateral lenders provides loans to seriously ill individuals who would not qualify through traditional lending channels.
Loan companies that take life insurance as collateral fall into two main categories:
Some banks will accept a life insurance policy as collateral for a business or personal loan — but they typically require:
Life Credit's lenders are different. They accept:
