[Vocabulary] borrow against

[maiabulela]

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.

 

[riquecohen]

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.