If I am the beneficiary of life insurance payment after someone dies, do I have to by law use that money to pay off the deceased debts? Or is this something that the bill collectors cannot touch at least legally? How would the creditors even know that there was a payout of life insurance? Anyway for them to know this? Can I get in trouble for not paying?

Hypothetical: Two people are the beneficiaries of each others life insurance policies (say a husband and wife). If the two are in a vehicular accident that did not involve another party (say they went off the road and hit a tree) and the driver survived but the passenger died. Would the driver still be eligible to collect the insurance payment?

At first, it seemed to me that the policy should be paid. However, though the driver is not drunk in this situation, would he still not be at fault because he lost control of the vehicle and thus be criminally liable for the others death?

What happens in the above scenario if the passenger survives but the driver dies and this is within the first two years of the policy? Is the death ruled an unintentional suicide or something?

The reason I ask is only out of curiosity. Insurance companies are notorious for finding loopholes. I have heard that after Katrina in New Orleans that some people who had flood insurance did not receive payment because damage by broken levees was not considered the same as a flood. Since automobile accidents are so common, I am wondering how some of the specifics work.

Firstly I'm not planning to off myself!
Just wondered if someone commits suicide does the insurance company pay out on the life insurance or not?

I do a schedule A and C each year. Anywhere on those forms or the 1040 that I can write off life insurance payments as part of personal or business expenses.

cancelled my policy. Does anyone know of a good one to get in Minnesota?

I was late on my auto insurance payment for a month b/c i didn't have enough money to pay. The insurance just cancel my policy. I will the insurance as soon as i have money.

thanks for any answer

When I had Allstate auto insurance a few month my payment plan was weird and I was wondering if someone could tell me what kind of payment plan this was.

For example: I would start in January and pay all the way up to June. Than from July to December I wouldn't have to pay anything until the Next January in the New Year. Would this be a 6 month policy?