Life Credit Company

What Life Credit Company does

Life Credit Company, LLC is a privately held, La Jolla, California-based licensed marketing company (CA Finance Lender License #601K051) founded in 2012 that connects cancer patients and seriously ill individuals with providers of Living Benefit Loans. Its single core product allows borrowers to access up to 50% of the cash value of an existing life insurance policy's death benefit (minimum $100,000) without selling the policy, without making monthly payments, without credit checks or income verification, and with approvals typically issued within three business days. The loan is repaid from the death benefit upon the policyholder's passing, with Life Credit assuming future premium payments on the borrower's behalf.

The business operates with no proprietary technology platform; it functions as an intermediation layer between individual borrowers and loan providers, supported by a 206-article content marketing library, organic SEO targeting state-specific and illness-specific keywords, and a phone-based inside sales team staffed by professional counselors. Customer acquisition is entirely direct-to-consumer, with no disclosed partners, integrations, or API infrastructure, and the company holds BBB A+ accreditation, a 4.9/5 Trustpilot rating across 223+ verified reviews, and has been featured on PBS national television.

Revenue is generated via transaction-based fees: a 3% origination fee calculated on the policy's death benefit (not on the loan amount) plus interest spread on the loan itself, with disclosed APRs up to 35.99% and repayment terms ranging from 90 days to 120 months. The company has cumulatively delivered $175M+ in loans since inception, employs 11–50 staff, and is led by Managing Director Jim Purdy, with no disclosed institutional investors, parent company, subsidiaries, or external funding.

Name

Life Credit Company

Legal name

Life Credit Company, LLC

Website

https://lifecreditcompany.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Life Credit Company is a licensed marketing company that connects cancer patients and seriously ill individuals with Living Benefit Loan providers, allowing them to borrow up to 50% of their life insurance policy's death benefit without monthly payments or credit checks. Founded 2012 in La Jolla, CA.

Ownership category

akta.pro rank

Headquarters

HQ city

La Jolla

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Origination Fee Income: Life Credit earns a 3% origination fee calculated on the life insurance policy's death benefit (used as collateral). The company also charges APR up to 35.99% on loans, with example loan of $200,000 over 24 months at 18% equaling $295,188.80 total payment.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Life Credit Company provides Living Benefit Loans that allow individuals diagnosed with a serious illness, such as cancer, to borrow against the death benefit of their existing life insurance policy. The loan delivers a lump sum of cash within days of approval, intended to cover medical bills, living expenses, and other costs while the borrower is still alive. The product is available in most U.S. states to qualifying policyholders whose policies have a minimum death benefit of $100,000.

Product overview

Life Credit Company offers a single core product: the Living Benefit Loan. This is a financial loan service that allows seriously ill individuals (primarily cancer patients and those with conditions like ALS, heart failure, Alzheimer's, and kidney disease) to borrow against their life insurance policy's death benefit while they are still alive. The loan is repaid from the death benefit upon the policyholder's passing, and beneficiaries receive the remaining balance. No monthly payments, no credit checks, and approval within 3 business days.

Differentiator

Problem solved

Functional benefit

Products and services

• Living Benefit Loan A loan product for individuals diagnosed with a serious illness such as cancer that allows them to borrow up to 50% (capped at $500,000) of the death benefit of their existing life insurance policy, receiving a lump sum within days. There are no monthly payments; the loan is repaid from the policy's eventual death benefit. Minimum qualifying policy has a $100,000 death benefit.

Quantifiable outcome

• $175M+ delivered to patients since 2012
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Best Egg: Best Egg is a personal loan platform under Marlette Funding that offers unsecured consumer loans used for debt consolidation, home improvement, and major life expenses. It is comparable to Life Credit as an alternative consumer credit channel for borrowers who need lump-sum liquidity outside of traditional bank products.
• LendingClub: LendingClub operates a large online consumer lending marketplace providing personal loans for debt consolidation, credit refinancing, and major purchases. It is comparable to Life Credit as a scaled, online-first alternative lender competing for the same consumer credit demand, though without the life insurance collateral structure.
• LightStream: LightStream is the online consumer lending division of Truist offering unsecured personal loans for a wide range of uses, including medical and major expenses. It is a broad incumbent alternative to Life Credit for borrowers seeking personal credit without collateral requirements.
• LendingPoint: LendingPoint is an online personal loan platform targeting near-prime consumers for debt consolidation, home improvement, and medical expenses. It is comparable to Life Credit as a digital-first alternative lender serving borrowers with non-prime credit profiles who need lump-sum liquidity.
• Prosper Marketplace: Prosper operates a peer-to-peer-style personal loan marketplace offering fixed-rate consumer loans for debt consolidation and major expenses. It is comparable to Life Credit as an online consumer credit channel, though lacking the life insurance collateral and serious-illness specialization.
• CareCredit (Synchrony Financial): CareCredit is the dominant healthcare-focused consumer credit product in the US, offering promotional and standard APR financing for medical, dental, and veterinary expenses. While it is not life-insurance-collateralized, it competes for the same underlying use case — financing medical costs — and dwarfs Life Credit in scale and lender backing.
• OneMain Financial: OneMain Financial is a large specialty consumer lender providing personal and auto loans, with a strong footprint serving near-prime and credit-challenged borrowers. It is comparable to Life Credit as a non-prime-friendly consumer credit alternative, particularly for borrowers who may not qualify elsewhere.

Direct peers

• Elderlife Financial: Elderlife Financial provides "cash for living" loans and bridge financing to seniors, including loans collateralized by life insurance policies. It overlaps directly with Life Credit in product structure (life-insurance-backed loans for older and seriously ill borrowers) and serves a closely related customer segment.
• American Life Fund: American Life Fund is a direct competitor in the viatical/living benefit loan space, offering cash advances to terminally and chronically ill life insurance policyholders. It targets the same borrower profile (cancer and serious-illness patients) with the same underlying structure of borrowing against the policy death benefit, making it the closest comparable to Life Credit's Living Benefit Loan product.

Emerging players

• Coventry First: Coventry First is a life settlement provider that purchases life insurance policies from policyholders, including those with health impairments. It is an emerging/adjacent player in the broader life insurance monetization space, overlapping with Life Credit at the intersection of policyholder liquidity and serious-illness needs, though operating via settlement purchase rather than loan origination.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Life Credit Company