What is a LIfe Equity Line of Credit or “LELOC” | What are the advantages and disadvantages of using one?
The Infinite Wealth Podcast
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Four Disadvantages of a Leelock
The interest is due monthly and or quarterly depending on which bank we're going to be using. Some insurance companies, banks will not lend to some insurance companies on that Leelock. And then also the interest rates from the banks on the Leelock are variable as well. So let's review these four disadvantages before we wrap this thing up. We came up with two of them just here at the end.
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