That is up to the discression of the insurance company.
does a grant have to be repaid
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
Life insurance can be used to secure a car loan by naming the lender as the beneficiary of the policy. If the borrower passes away before the loan is fully repaid, the insurance payout can be used to settle the remaining balance, ensuring the lender is not at a financial loss.
Credit life insurance on auto loans is important because it helps protect the borrower's family from financial burden in case the borrower passes away before the loan is fully repaid. This insurance ensures that the loan balance is paid off, relieving the family from the responsibility of the debt.
Mortgage life insurance gives a person a lot of benefits like covering your loan to the bank and mortgage is paid in full, and also the house will be fully repaid and the rest of the family will have peace of mind from making mortgage payments.
If the loan is documented (there is written evidence for it signed by both parties) and there is an agreement that it should be repaid, then that loan is an "asset" in terms of the deceased's estate. Therefore in these circumstances YES the loan can and should be recovered to the estate.If the loan is undocumented, then is it unenforceable and not an asset.
Pay what you owe and negotiate with an insurance broker for the best company and deal. Since you have repaid your debt and you had no moving violations or accidents this should be easy.
No
does a grant have to be repaid
A favor should be repaid. If you're nice to me, I should be nice to you.
Money lent to a friend can be recovered from an enemy means that tensions can arise between friends when money is involved. The lender may feel that the borrower has taken advantage of them in some way and the borrower may feel that the lender expects more praise for loaning them money.
Subrogation, It's basically when an insured's insurance carrier pays for the damage done to their vehicle, even though it was the other parties fault. The insured's carrier will then go after the other parties carrier for reimbursement.
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
"Repaid" is a verb: "Bob did me a favor, so I repaid him by baking him a cake." "Unpaid" is an adjective: "I have several unpaid parking tickets."
Life insurance can be used to secure a car loan by naming the lender as the beneficiary of the policy. If the borrower passes away before the loan is fully repaid, the insurance payout can be used to settle the remaining balance, ensuring the lender is not at a financial loss.
what is it called when goverment note that is repaid with interest?
I don't want my favor repaid; I want you to pass it along.