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Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Friendly Loans Against Your Life Insurance Policy


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You may be able to find a friendly source to lend you money by using a life insurance policy as collateral for the loan -- much as you would use a house as collateral for a mortgage.

A loan is income tax free to you, the borrower.

If you decide to approach a friend or family member, do so on a business-like basis.

The key word is "like" because while the transaction should be done in a professional manner, your friend is entering into the transaction as a favor to you more than for potential profit.

The other sections of this article cover: 

Keep in mind that after you receive the proceeds, it becomes your obligation to keep the policy in force as long as the loan is outstanding.

This process can be pretty depressing. If it is, and discomfort about initiating the topic keeps you from moving forward, speak with your support system -- including a support group and professional help. For tips about dealing with depression, click here.

NOTE:  In order to help other people in a similar situation, please share the form you use, particularly if it was prepared by an attorney. Please black out the names before sending. Please send the copy toSurvivorship A to Z. Indicate if the document was prepared by an attorney, and, if so, who so we can give him or her credit.

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