Death benefits & judgements

by Guest » Wed Mar 04, 2009 01:22 am
Guest

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

Total Comments: 7

Posted: Wed Mar 04, 2009 08:48 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

Posted: Wed Mar 04, 2009 08:58 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.

Posted: Thu Sep 16, 2010 08:50 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

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

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.

Posted: Tue Nov 12, 2013 08:09 pm Post Subject: beneficiary of a life insurance policy

Can a lien be put on the beneficiary, when the beneficiary owes money to a creditor and that person is listed on someones term life death insurance policy? Also, is it against the law to replace the beneficiary name before this occurrs?

Posted: Tue Nov 12, 2013 09:45 pm Post Subject:

Can a policy owner of a term life insurance change the beneficiaries at any given time, esp when they know one of the beneficiaries has outstanding debt and judgements/liens? Would this be considered legal or fraud?

Posted: Wed Nov 13, 2013 05:36 am Post Subject:

Can a policy owner of a term life insurance change the beneficiaries at any given time

As long as the beneficiaries are revocable, the answer is yes. It is perfectly legal to do so, and would not be fraud.

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