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No, its not necessary. However, it would probably be a good idea to have some life insurance regardless.

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Wiki User

16y ago

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Related Questions

How would one get a loan for insurance?

One can get a loan for life insurance from a few locations. There are a few banks that will allow you to take out a loan using your life insurance payout as collateral.


Need get loan on agenst my life insurance?

yes i can get loan agenst my life jnsurance


Do you get a 1099 if you take out a loan on a life insurance policy?

No. It is a loan, not income.


What are some examples of Fixed Expenses?

Mortgage, Automobile loan, student load, insurance


Where can you get a private student loan that is not based on tuition?

there are a couple of credit based companies that will give a private student loan to creditworthy student and a co-borrower such as a parent if necessary. You can use the loan for tuition, books, transportation, housing, and any other related expenses that you'd have as a student.


Which type of insurance reduced over the life of the policy?

Decreasing term life insurance usually purchased to cover a mortgage loan for whatever the loan period is. This type of coverage is not available by most life insurance companies.


Whats loans insurance and how will it benefit your life?

Loan insurance protects you in event of something happening. If you die, your relatives are not responsible for making loan payment. I highly suggest loan insurance to everyone who wishes to take out a loan.


What qualifications are necessary to receive a federal student loan?

The eligibility for student loans is mostly based on financial need. Student loans generally have low interest rates. To get a student loan you must first complete the FAFSA form.


What companies offer home loan insurance?

There are many companies which offer home loan insurance. These include the ICICI Bank, HDFC Life and SBI Life. Another company to offer this insurance is HLIC.


What are the exclusions for credit life insurance?

What are the exclusions for obtaining credit life on a loan


What are the insurance options available for a personal loan?

The insurance options available for a personal loan typically include credit life insurance, credit disability insurance, and payment protection insurance. These types of insurance can help cover loan payments in case of death, disability, or involuntary unemployment.


What are the benefits of combining a car loan with life insurance?

Combining a car loan with life insurance can provide financial protection for your loved ones in case of unexpected events like death or disability. If something happens to you, the life insurance can help pay off the car loan, relieving your family of that financial burden.