Vie

In the U.S. alone, there is $150B accumulated in life insurance policies across 89M policy owners. 77% of these 89M policy owners have at least 1 credit card with an average APR of 21% that they use to fund their living costs. Vie Card is a secured credit card that uses permanent life insurance policies as collateral for the card. Vie's primary customer typically already has a life insurance policy in place. Right now, the only way to borrow against this policy is to take out a policy loan. It typically takes 8-12 weeks to close and isn't preferred by customers. Vie provides an alternative by collateralizing the policy's cash value and using that collateral assignment as a securement for a line of credit from their banking partner. Then the line of credit will fuel the card. Life Insurance Policy is to House as VieCard is to HELOC. A good product comparison is Aven, https://aven.com Because the card is powered by a cash equivalent secured LOC, Vie can offer an APR closer to 8% Vie will collect 1/3 of the interest charged to cardholders on balances that are carried over month to month. The bank will keep the other 2/3.