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Is a beneficiary on any type of insurance responsible for any credit card debt?

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Wiki User
2006-09-18 19:56:19

The beneficiary is not necessarily responsible, but the estate

of the deceased will go through probate. At that time, any

outstanding loans or financial obligations will be paid from the

estate. This will have the effect of reducing inheritance and will

seem to be "you" paying for the debt, but it actually the last bill

everyone pays.


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