Yes... as long as you are not an ex-felon you can sell life insurance (even if you have bankruptcy)
The Bankruptcy Court has every right to claim the proceeds of a life insurance policy once you are declared by them as insolvent.
Sadly, yes. What a way to start your life though. Adding that to your resume is not a great idea. Student loans are not usually discharged in bankruptcy. While in bankruptcy, collection efforts will cease until the bankruptcy becomes inactive.
address of united of Omaha Life Insurance
Yes. Ask your lawyer about that!
no not really
That will depend on the licensing regulations in your state.
Yea, a life insurance policy can be mortaged as lien in banks for availing of loans. Even many private companies also provide loans against lien of life insurance policies. Life Insurance Cos provide loan upto 75% of paid up premium against lien of life insurance policy bond of the policy holder.
Most life insurance benefits are exempt from bankruptcy. Contact the trustee or the attorney who handled the bankruptcy to find out what applies in this situation.
You can make life insurance loans through an insurance agent or bank. You probably first get a life insurance policy. You then fill out an application and the agent will process the application and give the loan. You can borrow up to $500,000 which will be subtracted from you death benefit. You then have to repay the loan off when you are done with it. Life insurance policies are forfeited when you sell you life insurance policy through settlement. Your beneficial will receive the portion of the money you paid back.
No. Only whole life insurance policies (sometimes called "permanent insurance") accumulate cash value. Policy loans are generally available from the accrued cash value. Since term insurance does not gather cash value, policy loans are unavailable.