benericlary is his estate. He has no other life insurance. He wante to borrow 850.000 from his bank to tenoyate twis cottage. His bark avis whacher he hius life insurance he can use as collateral. How ahould Mordecal angwer? He cannot assign his group policy as collateral, because he is not the policyholder. He cannot assign his group policy as collateral, because his beneficiary is irrevocable. He can assign his group pollcy as collateral, because his beneftciary is revocable. He can assign his group policy as collateral, but its cash surrender value is still low