Can I assign my Police Life Insurance Extra policy to a financial institution as security for finance?

Insurances, Life Insurance, Police Home Loan, Police Life Insurance Extra, Lending and Financial Services, Products and Services

Yes, Police Life Insurance Extra cover is generally more cost effective than Mortgage Repayment Insurance. A bank or other financial institution can be nominated as the beneficiary of the policy proceeds. If there is any residual value (i.e. in excess of what you owe) the remainder of the proceeds are made payable to whoever is noted on your Benefit Nomination Form.

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