One can get a loan for life insurance from a few locations.
There are a few banks that will allow you to take out a loan using
your life insurance payout as collateral.
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Usually you can get a personal loan insurance from the bank you
are taking the loan from, or from an insurance company. There are
also several website throughout the web, where you can get loan
insurance.
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Loan insurance protects you in event of something happening. If
you die, your relatives are not responsible for making loan
payment. I highly suggest loan insurance to everyone who wishes to
take out a loan.