When and Why Does a Spouse Have to Sign?

While your Line of Credit may be issued to you as an individual, therefore your spouse is not a party to the loan itself, assigning an insurance policy as collateral is governed by state laws, which vary from state to state.

Arizona, California, Idaho, Louisiana, Massachusetts, New Mexico, New York, Nevada, Texas, Washington, and Wisconsin require that a spouse acknowledge your assignment of your life insurance policies if you currently reside in one of these states, or if the policy was originally issued in one of those states -- even if they are not an owner beneficiary of the policy.

If you fall into one of those categories, your spouse will have to sign an acknowledgement that they are aware of the assignment. We identify this automatically and call out any additional signatures needed on the Collateral Assignment step of your application process.