Life Credit Company Reviews - What Is It?

DO NOT USE Life Credit Company!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!

If you are going through some health-challenging times and in addition to your diagnosis, you have faced serious financial issues, you will undoubtedly benefit from the Life Credit Company. It is a nationally licensed lender whose life insurance loans may provide you with some financial help. Thus, if you have $75,000 of life insurance and have got cancer or another severe medical issue, the company's Living Benefit Program will loan you half of your life insurance policy's death benefit. It means that you won't have to pay off this loan; you can spend this money without restrictions. Depending on your state, this loan may come in handy when you need finances in a simple process. All you have to do is apply for a program online, get approved and finally get your funds.

Life Credit Company launched in 2012, its Living Benefit Loan program can give you a loan that is linked to your life insurance policy and is considered to be an asset, like your car or house. To be able to use the money, you will need to have been officially diagnosed with cancer or another severe disease like Alzheimer's, ALS, Congestive Heart Failure, End-stage Liver Disease, and Stage IV Renal Failure. The Living Benefit program can work with different types of life insurance policies, including group, term, universal, variable, FEGLI, and whole life. No matter which policy you have, you will need to have at least in coverage. Let's take a closer look at this program and see what real users think about it.

Customer Reviews - Does Life Credit Company Really Work?

There are numerous users' reviews about the Life Credit Company online. Most customers are satisfied with the company and programs it offers. People like the fact that applying for any of its programs is a fast and easy process. Qualifying for the Living Benefit program allows you to have immediate access to half of your policy's death benefits. In addition, you will also avoid pocket expenses; you won't have to repay the loan or any future life insurance premiums. Besides, you won't need any additional collateral. Upon death, the benefits are paid out on your policy, which will be applied to your loan, including interest and other fees. Any remaining balance will be directed to your beneficiaries. What happens if the Living Benefit program Expires? According to the company's Managing Director, if a life insurance policy is about to expire, it might be converted into a permanent policy. What happens if an insured person lives longer than expected? The company has considered possible risks and has no recourse to the insured, their estate, family, or beneficiaries.

Even though Life Credit Company launched in 2012 and has been in business for only five years, there are enough testimonials from real customers of the company. In fact, we found 44 customer reviews on TrustPilot. The company earned an average rating of 9.4 stars out of 10 on this website. Most compliments referenced the ease of applying for the program, ease doing the whole business, perfect customer service, and kind, professional staff. In reality, the only complaint found on that website referenced unknown fees. A lot of information about the Life Credit Company can be found on the Better Business Bureau website. It also contains some users' reviews, most of which carry a positive character. The company received an A+ rating from that website. It would be a wise idea to take a look at the actual testimonials left by the customers of the company online. Here are just some of them.

"Life Credit Company is a perfect company that was of great help to our family when we were in need for money. Separate gratitude is to David, Brendan, our assistant who was with us through the whole process and showed all of his professionalism. The entire team was honest and attentive too. I would highly recommend this company to anyone who needs funds!"

"Life CreditCompany turned out to be a real blessing for our family! From the very beginning everyone I dealt with at the company was knowledgeable, helpful, kind and professional. The personnel worked well to enable me to get as much money as possible for my policy. My family did not have to worry about bills and other expenses. We just enjoyed spending our time together. We are so grateful!"

"I am happy that I addressed LifeCredit Company when my mother got ill. They turned out to be very professional and everyone that worked with me was honest and polite. I am not very good at the field, but my expert explained everything clearly and with great patience. We would be left without money if not for this company. I would recommend these people to others in the future."

My Final Summary

Life Credit Company is associated with a number of advantages. Their loan program deals with all types of life insurance policies, even permanent life policies. You do not necessarily cash out some of the equity in your life insurance policy with the company. They act as a third-party lender who loans you a certain amount of money using your policy as collateral. According to the LCC's Managing Director, they provide loans against the death benefit of the policy, no matter how much money it contains. It should be kept in mind that life insurance loans are not free. The Life Credit Company also needs to make some money.it does this by charging a low interest rate on every loan.

After studying the Internet for a prolonged period of time, we failed to encounter any other companies that provide loans that use life insurance policies as collateral. Life Credit Company seems to be unique in this field. So, if this is what you are looking for, you should pay attention to this great option. The company partners with Cancer Treatment Centers of the USA, this it might be a logical choice if you have been diagnosed with this disease. The company appears to come with a great number of positive customer reviews. It is another advantage for you to consider. After having an interview with the company's Managing Director, who was polite and patient with answering our questions, we would give them the highest marks for customer support. Taking into account all pros and cons of this lender, we can certainly recommend Life Credit Company.

Life Credit Company Pricing and Rates

The Life Credit Company website provides details on all fees, including a 17% annual interest rate on Living Benefit loans. The company charges a one-time origination fee of 3% of the death benefit. This fee is added to the loan balance. It costs completely nothing to consult a professional counselor. When applying for a program, you will have to provide a copy of your medical records as well as a recent life insurance policy statement. After that your dedicated loan counselor will inform you how much you qualify (within 72 hours). The amount of the loan depends on the size of your policy, your health, the premiums associated with your policy. For additional details, you can contact the counselor by calling 888-274-1777.