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0:58
YouTube
Insurance Exam Prep
On The Insurance Exam: Collateral Assignment—Who Gets Paid First?
🚨 LIFE INSURANCE EXAM TIP: Collateral Assignment Collateral assignment means using a life policy as security for a loan. If the insured dies, the lender is paid first up to the amount owed, and any remaining proceeds go to the named beneficiary. Memory hook: Collateral = loan security 📌 Save this for test day + follow for daily insurance ...
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