Business Loan Insurance Desk

Meet the insurance requirement. Protect the closing.

Life and disability insurance support for SBA and commercial loans, starting with the coverage you may already own.

  • Existing-policy-first review
  • Direct lender coordination
Close-up of a business professional signing a paper document at a wooden desk.
Coverage support for
  • SBA 7(a)
  • SBA 504
  • Business acquisitions
  • Professional practices
  • Commercial loans

Already insured? You may not need another policy.

Before applying for new coverage, we can review whether an existing life insurance policy appears capable of satisfying the lender’s stated requirement. Final acceptance always belongs to the lender.

Path 01 · Existing coverage

Complimentary policy review

We help organize the facts the lender needs: ownership, face amount, policy duration, carrier and existing assignments.

  • No obligation to purchase new insurance
  • Work with your current agent when appropriate
  • Lender makes the final eligibility decision
Review my existing policy
Path 02 · New coverage

Coverage built around the loan

If existing insurance is unavailable or insufficient, Brookfield can help identify coverage that fits the loan amount, term and closing schedule.

  • Life and disability insurance options
  • Multi-carrier underwriting access
  • Support for difficult medical histories
Explore coverage options

From lender condition to carrier acknowledgment.

We keep the insurance side of the transaction organized so the borrower and closing team can see what is needed, what is pending and what comes next.

01

Send the requirement

Share the lender’s insurance condition or commitment letter with our Loan Insurance Desk.

02

We review what you have

We compare an existing policy with the lender’s stated amount, term and assignment requirements.

03

Choose the right path

Use suitable existing coverage or, only if necessary, explore new coverage designed around the loan.

04

Clear the closing condition

We coordinate with the borrower, lender, agent and carrier to keep the insurance requirement moving.

Assignment coordination when you want someone to own the follow-up.

When an existing policy is accepted, borrowers may choose an optional flat-fee coordination service covering forms, signatures, carrier submission, follow-up and delivery of the recorded acknowledgment.

LenderBrookfield deskCarrier
standard assignment coordination service
$295

One policy. One lender. Standard processing.

  • Correct carrier form identified
  • Signature coordination
  • Submission and status follow-up
  • Acknowledgment delivered to lender

Fee charged only after the scope is agreed in writing. Complex or expedited cases may require separate terms.

For banks, CDCs and loan advisors

A responsive insurance desk for your closing team.

Give borrowers a clear path for existing-policy review, difficult underwriting and collateral-assignment coordination, with one status contact for the insurance requirement.

Discuss a lender partnership

Questions borrowers ask before closing.

Every lender and policy is different. These answers explain the general process. The lender and the carrier control their own requirements.

Can I use life insurance I already own?
Often, yes. Many lenders will accept an existing policy when the face amount, remaining term, ownership and beneficiary structure line up with the insurance condition in the commitment letter, and when the policy can be collaterally assigned. We review those details against what the lender asked for and show you where the gaps are. The lender makes the final decision.
Will the lender become my beneficiary?
No. A collateral assignment does not replace the beneficiaries you named. It gives the lender a secured interest in the policy proceeds up to the outstanding loan balance. Anything above that balance is still paid to your named beneficiaries, and the assignment is released once the loan is satisfied.
Do I have to replace my existing policy?
No. If coverage you already own can satisfy the requirement, our recommendation is to keep it, and we will work with your existing agent where that is appropriate. New coverage is only worth discussing when there is not enough insurance in force, the term ends before the loan does, or the policy cannot be assigned.
How long does a collateral assignment take?
It depends on the carrier. Once the correct form is signed and submitted, many carriers acknowledge within roughly one to three weeks, and some move faster. Those timelines are set by the carrier, not by Brookfield. If your closing date is tight, tell us early so we can flag it with the carrier and keep the lender updated.

Start with a complimentary review.

Send us the lender’s insurance condition and whatever you know about coverage already in force. We will tell you where you stand before you apply for anything new.

  • No obligation to purchase new insurance
  • We work with your existing agent when appropriate
  • Usually a response within one business day

Closing date tight? Call the desk directly at 866.639.0443.

Submitting this form does not bind coverage and does not satisfy your lender’s insurance requirement. The lender and the carrier make their own decisions.

Loan Insurance Desk intake

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