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Hello,
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 Why do people gamble in life without life insurance? |
41% of U.S. adults do not have life insurance coverage. (National Underwriter)
Additional Details
Well Gem that sounds like a bad place for you guys, you need to sit down with a ... |
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If they submit claims all the time, they should know there will most likely be a deductible, right? Dependent upon several factors....
Additional Details
I'm not an insurance agent. ... |
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 What happens if someone is left with short term memory loss from a car accident? |
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She doesn't remember her passwords.
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| My father died a few months ago, and he had a life insurance policy that was left to someone else that he barely knew. I contested it, and I received a letter from the company saying that they could ... |
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Electrique | Life Insurance? |
If someone has life insurance and also has a home mortgage, does the life insurance goes to the mortgage? |
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AznBoyz
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Say you have a life insurance, you still have mortgage or debt to pay, you die prematurely, your spouse or no one co sign any mortgage or debt, your legal spouse would not have to pay the mortgage or debt you owe, becasue there is no co signing under you. If your spouse is a co signer under you, they will not collect or get any benefit as your spouse is still in a legal binding contract to pay off the mortgage or debt that you left. (No co sign, they get none, co sign, they will only get the payment like as if you were living and paying from your spouse). It vary from case to case as everyone status is different. |
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diva3kids
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No the life insurance goes to the person or persons listed on the policy. That person can use the insurance towards the mortgage, or they could go shopping. Its their choice. Now there is insurance for your mortgage that will pay ur house off if the person who took out the primary loan dies. |
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Financial JUSTICE
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Nope. It goes to the beneficiary. If the beneficiary wants to keep the property, he/she may use the life insurance money to pay the mortgage or do whatever such as paying your funeral first. |
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Kshaw5
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Most life insurance policies are payable to who ever you want and they can do whatever they want with it. So its a good idea to explain to the beneficiary what sort of financial obligations they would be dealing with in your will. And of course to make sure the insurance payout covers the mortgage. |
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Mark S
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No. Your beneficiary will receive the money. They will do with it what you want them to by way of a will. If you put the mortgagor as a beneficiary, make sure you change their amount every year. It would be more beneficial to use a family member as beneficiary and designate the amount of money you want for them to pay your mortgage. |
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src50
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No. The life insurance goes to the named beneficiary(ies) on the policy. It has nothing to do with the will. |
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mbrcatz
 |
No, the life insurance - if they die - goes to the named beneficiary. |
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biztone
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It depends on the type of life insurance. There is something called "Credit life." If in this case you want it to pay outstanding debts you owe, this is the type you want. It is a declining face value (The death bennefit, or amount that is paid when you die) equal to the amount of money you owe to your debts. If this is not ideal case, and have a standard life (whole, term, etc.) it will go to the designated benneficiary. This is known as the Spendthrift Clause.
"Some policies will contain a spendthrift clause. This clause is intended to protect the
beneficiary by preventing the beneficiary from losing the proceeds to creditors and by
preventing creditors from including the proceeds in legal actions against the beneficiary." (From Proschools - I'm an agent ;) The best bet for you (if already have life insurance) is to speak with the agent who sold you the policy or the company. They can clearify the policy details with you. |
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