Life insurance is a contract between an insurance policy holder and an insurer stating the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. A copy of a benefit statement from a life insurance policy typically is requested to verify that a customer owns the policy and that cash value is available. Proof of policy liquidation may be requested if the funds from the policy are being used for a down payment or closing costs.
Avoid delays in processing your loan
For all documents:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).