What does Loan Receipt mean? Read on to discover the definition & meaning of the term Loan Receipt - to help you better understand the language used in insurance policies.
A loan receipt is a document that an insurance policyholder signs to signify that they have received an interest-free loan from an insurance company. These loans are typically given out when a loss has occurred and the policyholder is suing a third party for damages related to that loss.
We hope the you have a better understanding of the meaning of Loan Receipt.