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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Business loan closing

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.

Q: I need to provide evidence of life insurance to the small business development office in order to close my loan ASAP. How quickly can this insurance be issued?

A: The fastest low priced term life insurance is Guaranteed Trust Life Insurance. Underwriting time is usually 2-3 days for most of the online policies. No medical exam or personal interview is required. This policy includes the issuance of a collateral assignment at no additional charge. This policy provision allows you to protect the small business lender but leave the balance of the policy benefit to your own beneficiary and therefore is preferred approach rather than making the lender the primary beneficiary of the policy. See http://FreedomBenefits.com/Guarantee%20Trust%20Life%20Insurance.htm for more details.

Summary

More resources:

Guarantee Issue Life Insurance