I am taking out a loan against the cash value of my life insurance policy. How do I know if my beneficiary has limited rights and also what is a collateral assignee?

I’m trying to figure out if I need a beneficiary signature. Also is collateral assignee for the policy provider to sign? Here’s screenshot of sig…

View More I am taking out a loan against the cash value of my life insurance policy. How do I know if my beneficiary has limited rights and also what is a collateral assignee?