Loan Process of a Living Benefit Loan

living benefit loan

Offered by the Life Credit Company, the Life Credit Loan can be accessed through the company’s Living Benefit Loan program. The company has simplified the application process to ensure that you get the funds within the shortest time possible as outlined below.

Application for Life Credit Loans

The first step toward applying the Living Benefit Loan is contacting Life Credit Company. You may contact the company’s Director of Client Relations via 1-888-274-1777. Alternatively, you can visit http://lifecreditcompany.com/contactus/ and fill in the contact form with your name, e-mail address and phone number to a start free consultation session.

A customer care representative will take you through the application process. Information about your health and life insurance will be collected to determine your eligibility.

You are not required to provide any collateral or additional security to the company during the application stage. Life Credit Company deems your life insurance policy as an asset and uses the full death benefit value as security for the loan.

Approval for Living Benefit Loans

If eligible, your Living Benefit Loan is approved within three business days from the date of application. Before the funds are disbursed, a counselor will tell you how much you’ve qualified for.

Life Credit Company will then enter into a loan agreement with you and will instruct your life insurance provider to record the loan.

Disbursement of Funds

Upon your life insurance provider confirming that they have recorded the loan, the funds will be disbursed to you immediately. You may start using the money to pay for your medical bills, buy prescription drugs or in any other way that you may please.

Remember, Life Credit Company does not attach any regulations as to how you should spend the loan.

Servicing Your Life Insurance Policy

Life Credit Company’s servicing department will ensure that all your future premiums are paid on time. Additionally, they will continually monitor the policy to ensure that it remains active and in a good standing.

Apart from the simple application process the Life Credit Company also provides free financial help for cancer patients, as well as those diagnosed with the End-stage liver disease, Alzheimer’s disease, Congestive Heart Failure and Stage IV Renal Failure. This is done to help you spend the loan from a point of information such as letting you know the best treatment option for your particular condition.

Remember that applying for a Living Benefit Loan is free and you’re never under any obligation to accept the offer.