This doubt must have crossed your mind, or it may have prevented you from taking a loan. Some believe that the loan disappears when the policyholder dies, others say that the family of the deceased must pay the debts. After all, what in fact is myth and truth? Let’s unravel this for you.
When the person dies, do the debts die together?
Myth. The debts remain and must be paid by the estate left to the heirs of the deceased, they can be paid even through an insurance, lender that has this purpose.
When the person dies the heirs get the debts?
Yes, but these debts will equal the limit of the estate left by the deceased, that is, the heirs will pay the debt through the inheritance left. Want to understand better? See example:
Assuming that a deceased left a debt of $ 100,000 and an inheritance of $ 50,000 for two heirs. The amount of R $ 50 thousand that would be divided between the heirs will be used to pay the debt, and the rest of it will remain in the hands of the institution.
What is the insurance lender that was quoted above?
The lender insurance has exactly the purpose of guaranteeing the discharge of the debt if the policyholder dies, has a permanent disability or becomes an involuntary unemployed. Therefore, the lender is a guarantee to anyone who asked for the loan to avoid stress if unforeseen occur.
If the value contracted in the insurance is greater than that of the debt, the difference is paid to the insured person alive, or to their heirs.
The cost of this insurance varies according to the term of financing, well, age of the insured and the rules of the insurer.
However, this insurance can also be used to pay some installments of debt in some specific situations, it is crucial to be abreast with the coverages described in contract.
Is it possible to lose the right to insurance?
Yes, it is possible for the insured to resign or even to obtain an incentive dismissal program, and also in situations where the insured person already has a pre-existing illness, the inability to perform activities.
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