Defined Benefit Pension Loans?

[Anonymous]

I have a lifetime defined benefit pension from a plan rated GREEN, has $3 billion in assets, and is 86% funded.

Are there any lending entities --  not the high interest scams -- who will lend against the monthly payment, if i have it contractually designated to be deposited in the lender's account each month, and back it with a term life policy?

[iv]

Seems like an over-complicated approach, and as you've noticed, the lenders in that market are all bottom-feeders targeting the "convert your settlement to cash!"-type deals.

Why not a standard personal loan (or cash-out refi, if you have any home equity), using the pension income to qualify?