Death benefits & judgements

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Posted: Wed Mar 04, 2009 1:22 am Post subject: Death benefits & judgements

My husband and i have a large judgement due to foreclosure. If one of us passes, will the judgement be satisfied with mine/his death benefit? MISSOURI _________________ Register Now to have your Insurance queries solved.

moxnix

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Posted: Wed Mar 04, 2009 8:48 am Post subject:

No lien can be put against the death benefit payable to the beneficiary. Any death benefit payable to the beneficiary in the event of the death of the debtor is exempted from debtor’s preying. You can read more on this regard in the following thread, http://www.ampminsure.org/life/garnish-policy-benefits.html Thanks, Rupert

RupertWBradson

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Joined: 05 Jul 2007
Posts: 703

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Posted: Wed Mar 04, 2009 8:58 am Post subject:

In Missouri if a woman is the named beneficiary in the policy of her husband no judgement can be levied upon it. It comes under the list of exempted properties of MO bankruptcy laws. _________________ Register Now to have your Insurance queries solved.

Seamonster

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Posted: Thu Sep 16, 2010 8:50 pm Post subject: Insurance claim

We have a motgage insurance through our bank for death and disability. As soon as we filed a claim, my husband being the only one listed on the loan, the insurance company said that they had to cancel our policy at their choice. Is this true? bjmuen _________________ Register Now to have your Insurance queries solved.

bjmuen

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Posted: Fri Sep 17, 2010 12:50 am Post subject:

Quote:

As soon as we filed a claim, my husband being the only one listed on the loan, the insurance company said that they had to cancel our policy at their choice. Is this true?

Are you talking about a death claim or a disability claim? And did they pay the claim or not before notifying you that the policy was being cancelled? Have you even read your policy to see what it says and claims and cancellations?

Without seeing the policy I cannot give you a good answer. On its face, the action seems odd to me, unless a death claim was paid. In that case the policy would certainly be terminated, because it had been contractually fulfilled.
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