Loanback


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Loanback

The ability to borrow money using one's life insurance or retirement fund as collateral. Loanbacks are available for whole life insurance but not term life insurance. Loanbacks are useful in that they allow one to access the equity of borrowers' savings.
References in periodicals archive ?
There was nooutcome from the formergovernment but we arehopeful that there will bean outcome from this new government,' said SonamTsheringDhendup.A father requesting anonymity said though his son, who is in Osaka, Japan,has not made any complaintsbut his son has not been ableto pay tuition fees and loanback home.
United could agree to sell now yet keep Souttar in a loanback arrangement for the remainder of this season.
For a list of usury laws by state, see Usury Laws by State, LOANBACK (Mar.