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Thread: borrow against

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    #1

    borrow against

    Dear all,

    What is the meaning of "to borrow" against"? I know that we borrow "from" not against. I haven't found it, and it's always related to "life insurance"!

    Here is the sentence in hand"
    [In order to pay their associates, they have to borrow against the life insurance policy.]

    I don't know. Does it mean "to withdraw money" but then it's considered an asset, it's not a bank account.

    Thanks.

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    #2

    Re: borrow against

    Quote Originally Posted by maiabulela View Post
    Dear all,

    What is the meaning of "to borrow" against"? I know that we borrow "from" not against. I haven't found it, and it's always related to "life insurance"!

    Here is the sentence in hand"
    [In order to pay their associates, they have to borrow against the life insurance policy.]

    I don't know. Does it mean "to withdraw money" but then it's considered an asset, it's not a bank account.

    Thanks.
    Borrowing against Life Insurance, Loan Information It means that you can use it as collateral for a loan. You can also borrow against your car. When you borrow against your house, it's called a home equity loan.

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