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Life Insurance Policy

  • 01-03-2018 11:09am
    #1
    The Fox of Glenarvon
    Registered Users, Registered Users 2 Posts: 8 ✭


    If an undischarged bankrupt dies, will a life insurance policy pay out on his estate?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,644 ✭✭✭✭Victor


    It may depend on who is the named beneficiary. Proper advice would be prudent.


  • #3
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    The Fox of Glenarvon wrote: »
    If an undischarged bankrupt dies, will a life insurance policy pay out on his estate?

    There is no reason why it shouldn't. Any payout would be to the official assignee unless there is a nemed beneficiary. On a practical level, an undischarged bankrupt may not have been paying the premium needed. The permission of the official assignee would have been needed for payments to be paid. Complicated scenarios can arise when business partners insure every partner so that when one dies borrowings can be repaid.


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