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Am I expected to use my fathers life insurance to pay his remaining debt off?
Wiki User
∙ 16y ago
Yes, that is the law. If you blow the money, the creditors will come after you and make your life miserable. Why would you think you would not have to pay his debts with his money?
Wiki User
∙ 16y ago
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What is the element that comprises the rate manual in insurance?
pure premium, debt exposure and expected loss ratio
Can you be held responsible for your deceased fathers debt in California if you are the only heir and your fathers debt exceeds his assets?
If the debt exceeds the assets, the assets must be sold to cover the debt. Heirs are not responsible for any remaining debt. Certified letters along with a certified death certificate should be sent to each debtor that can not be paid in full after the sell of assets. In this case there would be no inheritance.
Who is responsible for your dead fathers debt?
Laws and regulations regarding debt inheritance differ by country. In most cases, a debt will become part of the inheritance and will either be settled from the inheritance first, or paid by the inheritor(s). There are also countries where significant debts (such as a mortgage) is coupled to a life insurance that pays out and settles the debt when the debtor dies.
What issues were at stake in accepting or rejecting Hamilton's financial plan?
The founding fathers were not sure that Hamilton's gamble would work. Instead, they thought that the new nation would be more in debt that it originally expected.
Can wrongful death insurance settlement paid to surviving daughter be used to pay deceased fathers debt?
It can be used if the daughter wishes to do it. But she is not required to. The money was paid to her to compensate her for the loss of the father.
How does one purchase debt insurance?
You can purchase a debt insurance policy if you're worried that an unanticipated circumstance may prevent you from making your monthly loan payments. You can purchase debt insurance from a bank.
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you will have to pay a debt and GET CAR INSURANCE
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Hitler simply refused to pay the remaining German debt.
What are the benefits of having life mortgage insurance?
The primary benefit of having mortgage life insurance is to eliminate the risk of passing one's debt onto their heirs. The point of having mortgage life insurance is that if one dies with an unpaid balance on one's mortgage then the insurance covers the remaining balance and whoever inherits the estate will owe nothing on the house.
How will the US pay off its debt?
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Can you go to jail for non payment of the remaining debt of repossessd car?
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Can an insurance company allow you to put liability only on a car that hasn't been paid off?
Your lender has to approve any changes in insurance on your car until it is paid off. You may also opt to have them cover the remaining amount owed so that if the car is totalled, your debt is cleared.
