Insurance Lending –
Insurance Line of Credit
If you need quick access to funds, our interest-only, revolving Insurance Line of Credit is a great option for both personal and business needs. You can easily borrow against the cash value of a whole life insurance policy.
Features & Benefits Include:
- A quick and simple application process
- No prepayment premiums or origination fees
- Monthly, interest-only payments on outstanding principal balance
- Interest may be tax-deductible*
- Flexible payment options such as, but not limited to: ACH, auto pay, checks, wires
- Multiple policies can be combined and used as collateral for a single line of credit
- No credit obligation will be reported on the borrower’s credit report1
Download & Fill Out An Application
To Get Started Today!
Personal ApplicantsTrust Applicants
Submission Instructions
Justin Delle Donne
VP / Team Leader
- Office
- 908-367-5423
- JDelleDonne at LakelandBank dot com
Divya Sheel
AVP / Relationship Manager
- Office
- 908-367-5412
- DSheel at LakelandBank dot com
1 Only credit inquiry from Lakeland Bank will appear on a borrower’s credit report.
2 Line is contingent on the life insurance policy remaining in good standing and subject to credit approval & underwriting.
3 Unless policy was a Section 1035 Exchange.
4 Based upon cash surrender value of insurance policy(s).
5 Assignment and loan documents must be completed by all policy owners. If the Trust is the policy owner, the trustee(s) must execute assignment & loan documents. No business owned or corporate owned policies.
* Consult your Financial Advisor or accountant.
