Sep 16 2022, 11:03 AM
QUOTE(mini orchard @ Sep 15 2022, 09:25 AM)
Yes.
If A and B are co-owners and if A bought insurance to cover the loan and if B passed away, A still have to cont paying the instalment. If A passed away, then the insurance will payoff the loan and the property goes to B.
However, A and B can buy 50% or 100% each to cover the loan and if anything happened to either one, 50% or 100% of outstanding loan is covered. Again that depends on affordability if 100%.
If A passed away, the insurance will payoff loan and property goes to B, without B having to service his/her remaining part of the loan at all?If A and B are co-owners and if A bought insurance to cover the loan and if B passed away, A still have to cont paying the instalment. If A passed away, then the insurance will payoff the loan and the property goes to B.
However, A and B can buy 50% or 100% each to cover the loan and if anything happened to either one, 50% or 100% of outstanding loan is covered. Again that depends on affordability if 100%.
This post has been edited by Human Nature: Sep 16 2022, 11:04 AM
Quote
0.0155sec
0.27
6 queries
GZIP Disabled