RE: Make the owner financing beneficiary of my life insurance

[Dee Xixi]

Hi All,
I am buying a 6 units with owner financing. I suggested to the seller that I am putting 10% down with 5% interest on a amortized of 25 yrs. Ballon payment 7 years. He likes everything but the downpayment. He affraid that I can trash and walk away from his property. I am thinking to get a life insurance polic and make him the beneficary of it.
Have anyone done that? what is the in and out of that. Or any other suggestion